Leasing or Buying a Car: Which is Better?

Posted on Dec 12 2016 - 12:55am

Leasing or Buying a CarIt can be hard to make the right choices about your finances, especially if you start living on your own. When you suddenly receive the money than you ever had before, you might act and spend it all on impulse. 

One of the first big purchases people think about is owning a car. But, when the time to purchase a car has come, many people are faced with the dilemma of whether to buy one or to lease it. Both have their own benefits and these should be carefully examined before making a final decision.

You’ve probably heard than car leasing is something new and it’s popular among many people and companies. In many cases, it definitely makes more sense to buy a car outright. This doesn’t mean, however, that leasing a car is a bad move. In fact, it has various benefits.

New Car, All the Time

If you buy a car outright, you’ll expect to own this car for life, if it doesn’t bog down on you. When you lease a car, on the other hand, you always get to drive around in a sweet new ride. For many people, this is an emotional boost that can’t be ignored. If you’re a car buff and loves driving, this is a big perk.

Full Maintenance Package

Personal car leasing provides you with hassle-free monitoring without the depreciation risks linked to traditional ownership. Moreover, you’re given free monitoring services. This means that you’re always driving a new car.

Lower Payments

In leasing cars in Australia, monthly payments are lower than loan payments and you can obtain a loan even with a bad credit.

Drive Better Cars With Less Money

Buying a car outright may become too expensive, not to mention, the taxes and other fees you need to pay. If you lease a car, the fees are lower and you might not even pay any down payment.

Overall, those that love leasing do it because they can always have a new car. If they fall in love with something, they find that many dealers give them the option to renew the lease or buy the vehicle outright. Leasing a car may have many pros than buying a car but it will always depend on the budget, likes, and tastes of the customers.