ALL >> Automobiles >> View Article
Buy Or Lease Your Next Automobile
Total Articles: 312
Leasing a luxury car imposes lower costs, generally comparable to the interest rate of financing a loan. However, if you terminate a lease early or default on a monthly lease payment, you can face major financial penalties and ruin your credit rating. The decision of whether to buy or lease a vehicle also depends on your unique lifestyle. If you drive many miles each year and don’t mind paying repair bills, you probably should purchase your car. If, on the other hand, you exceed the mileage limitation or if the car shows considerable wear and tear at the end of the lease, you may find yourself paying large end-of-lease costs.
When you are thinking about getting a new car, one question always comes up: is it better to buy or lease? There is, of course, no one single answer. Each choice has benefits and disadvantages, so the choice depends on your own particular personal and financial circumstances.
A key issue is affordability. Is your job situation stable? Are you in overall good financial shape? The short-term monthly expense associated with leasing a car is much lower than the monthly payments required when purchasing a vehicle. With leasing, you pay only for the part of the vehicle’s cost used during the period of time you drive it. If you have the cash on hand, and you can pay the down payment and sales taxes – either in cash or via a loan – as well as the interest rate buying a car gives you that feeling of ownership and may be the best financial option.
If you want to get your hands on a Luxury Car, but you can’t afford the initial costs associated with buying one, leasing is your best option.
Leasing a luxury car imposes lower costs, generally comparable to the interest rate of financing a loan. However, if you terminate a lease early or default on a monthly lease payment, you could face major financial penalties and this could ruin your credit rating. Before you decide to lease, make sure you adjust your budget for the monthly lease payment for the duration of the contract.
The decision of whether to buy or lease a vehicle also depends on your unique lifestyle. What does it mean to you to own a car? Do you bond with your car, or do you like having something new? If you plan to drive a vehicle for more than five years, buying it – through careful negotiations – is probably your best bet. On the other hand, if you would rather drive a new car every two or three years, leasing is for you.
You should also consider your actual transportation needs. Think about how many miles per year you drive and how you handle car maintenance. If you drive many miles each year and don’t mind paying repair bills, you probably should purchase your car. With leasing, contracts are made with assumptions of limited mileage, typically between 12,000 to 15,000 miles driven per year, as well as considerations of wear-and-tear on the vehicle. If you can stay within the stated mileage limits and keep the automobile in good condition throughout the duration of your lease, leasing is a reasonable option. However, if you exceed the mileage limitation or if the car shows considerable wear and tear at the end of the lease, you may find yourself paying large end-of-lease costs.
Automobiles Articles1. Recognizing The Real Value Of A Student Auto Loan
Author: jeffery reynold
2. Be A Pioneer In The Motorcycle Repairs Here's What You'll Need
Author: Levi Fysh
3. Rockman – The Leading Manufacturers Of Drive Chain Kits & Alloy Wheels For Two Wheelers
Author: Rockman Industries
4. The Most Effective Method To Become An Independent Tyre Dealer
Author: My Tyre Point
5. Atv Tyres
6. Destiny International Filtration - Oil Cleaning Machine Manufacturer In India
Author: priya singh
7. Wounded Warrior Project & Harley-davidson Surprise Los Angeles Veteran With New Bike As Part Of Miss
8. Vectra - The Heavy Construction & Earth Moving Equipment Manufacturing Companies In India & Europe
9. Think Long Term Before You Decide On Your Auto Loan Term
Author: Kaitlin Miller
10. Tips On Choosing The Best Car Breakers Services In Birmingham
Author: Denny Sour
11. Benefits Of Scrap Car Removal In Birmingham
Author: Alex Stewart
12. Black Car, Limousine Service And Airport Transportation West Palm Beach Fl
13. Matters To Look Upon While Looking For A Gear Manufacturer In India
Author: SONA BLW Precision Forgings Ltd.
14. Car Detailing Tips And Keep Your Car Exterior In A Superior Condition With Autofresh
Author: neel patel
15. Things To Know About The Availability Of Different Warranty Plans For Cars
Author: Ewan Thorpe