Buy Vs. Lease Car
Leasing or buying? This is one of the most popular questions when considering of getting a new set of wheels. Let’s say that you’ve gone for leasing, let’s see where does that puts you in comparison with the ones that bought. About 80 percent of all auto customers and consumer either choose to pay cash or try and finance the purchase with a loan. If you’re willing to give up the idea of owning the car you’re driving, than you’ve earned yourself a new set of wheels and short term benefits that the leasing system provides.
Whether you’re self employed and can simply put your monthly lease payments as a business expense, or you’re heading for a more luxurious model with a lot less cash to pay. Or simply you desire a new car that’s cool, it has the newest technology on the market and simply don’t feel like bounding yourself to a 60 month loan. Or, even better, you just like new cars that appear fresh out of the assembly line and like to have them for 1 year, until the next best thing arrives.
Specialists question the motive of some consumers of changing cars each year since most consumers don’t feel the need to get the “shiny new toy”, well maybe you consider different, maybe you like it new, fast, powerful and shiny.
Because of the small percentage of individuals interested in leasing, demands have dropped dramatically at the end of 2009 but residuals are slowly readjusted and so did the costs of leasing vehicles. Since they have gone with the idea of “affordability is the key” therefore, as we all know, lease deals are directly linked to interest rates and when rates start going up, leasing becomes a much much better option for any car enthusiast.
And it’s not all about lower payments or high interest rates. Leasing offers even more, it offers flexibility. By leasing a car you don’t have to rule out the purchasing option while you are actually using the car. It’s like having a 1 year drive test with it.
Another great thing that is lifted from the shoulders of lessees. They don’t have to worry any more about the depreciation the car suffers, or dicey repair bills, like car owners. When the end of the lease is upon you, you simply take the car back and either you walk away, or if you feel like, establish another contract on the spot and drive away in the new 2011 Audi. The only condition to this is that you have to keep the car in good shape. Be careful, the terms of wear and tear may mean different things to you and the dealer. So if you’re not careful with the car, you might end up paying quite a lot for any broken or torn components. Another impediment is the mileage, but that is easy to track. So as long as you know how to read an odometer, you’ll be just fine.
Of course, leasing may be a convenient service but you have to pay up for that convenient service. The only downside to it (it depends on how you see it) is that at the end of the lease you have to get another lease or make a purchase. So unless you want to take the bus to work, you’ll have to decide. Probably that’s the reason why about 80% of the auto customers would rather have a car for many years. Maybe it’s the since of equity, or their comfort with the car.
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