Buying vs. Lease
Buying a car versus leasing a car has always been a tough decision for anyone searching for a new car. Whether it is trading in a paid off car for a new one, or returning a car off a lease term for a new car and lease term, car buyers out there still hesitate to buy or lease. With the way car technology is progressing, more and more consumers are turning into leasing a car versus buying a car for the fact that the technology is helping them with their daily routines in a car. The following are some pros and some cons to both buying and leasing a car.
Buying Pros
- Warranties
- Low Interest
- Latest Technology
Buying Cons
- Insurance
- Depreciation
- Return on Investment
Leasing Pros
- Less maintenance in the first few years
- Affordability
- Tax advantages
Leasing Cons
- Limited miles - charges apply after overage
- Wear and tear that is unattended can add up at the end of the term
- Long-term disadvantages when paying constant monthly payments
Sometimes it might just be the best to buy a car, or maybe just to lease... You decide! Depending on different variables that life has to offer each and every one of us, we are sure that there can be a silver lining to both buying and leasing a car. Contact us at LUX for the best perspective and opinions that the market can offer.