To Lease or To Buy a Car? 

To Lease or To Buy a Car?

It’s nice to have a car that you can call your own but which is a better choice, to lease or to buy a car? Both choices can give you the opportunity to take control of the car that you truly desire to drive but what are the pros and cons involved?

Leasing is similar to renting. Of course it involves paying money to use the car for a specified period of time. Buying on the other hand also requires money but you can be the official owner of the car once the price is paid in full. Leasing is cheaper since you only have to pay for the depreciation cost of the car while it is under your control and that is actually much lower than the monthly standard loan that you have to pay to own a car. You’re not also required to pay tax unlike when you own a car through a loan.

However, leasing is restricted by mileage specifications so you can be penalized if you go beyond the stipulated mileage specifications. Oftentimes, leasing is confusing which can make you entangled to other fees and added expenses. So make sure that you understand the terms and agreements of your leasing contact before finally jotting down your signature.

Buying can give you the opportunity to own a car and that gives you the opportunity to do whatever you want. You can modify or customize it to reflect your personal taste by adding in new headlight, tail light, spoiler, grille or hubcaps or rev up its performance by mounting OEM catalytic converter, radiator, suspension or alternator at Auto Parts Online. You can even sell it right away to buy a new one. However it may require you to spend a lot for costly repair expenses especially if the warranty has expired. The more the years the car is used, the more the expenses and the lesser the value.

This is just an overview of leasing and buying. It would be much better to ask help or advice from someone with personal experience or from someone who knows his way around this kind of thing.