Advantages of Buying and Leasing Cars
If you’re in the process of shopping around for a new vehicle, you’re probably trying to make your way through a mountain of options, both in terms of which model to choose and whether you want to buy or lease. Both buying and leasing offer lots of positive benefits, which are important to keep in mind when deciding which option best suits you and your finances.
Buying advantages
When you choose to buy a car, you can either pay entirely in cash or finance your purchase. Financing a car essentially means that you are loaning it and need to make monthly payments to a lender until your loan is paid off. Overall, the greatest benefit of buying a car is that, at the end of the process, you are able to own the car. As such, you can drive your vehicle for as long as you want and can accessorize or customize it as you please. If you’re looking to treat your car as a long-term investment, buying may be right for you.
Leasing advantages
When leasing a car, you only pay for the depreciation that occurs during a set lease term, and then you will return the car to the dealership at the end of the term. Accordingly, monthly payments when leasing are traditionally lower than they are when financing. You may also be able to save on maintenance costs when leasing since the vehicle should be covered by a factory warranty during the lease term. It’s also easier to afford a newer model with all of the latest safety and entertainment technology when leasing than it is when buying. If you’re someone who wants to have the most modern technologies while also making low monthly payments, leasing is the way to go.
To learn more about the process of buying and leasing, or to find your next vehicle, contact us at Presidential Auto Leasing & Sales in Delray Beach, Florida.
