Of course, it depends on what you actually prefer and what you would consider best for you. Yet, before actually taking the decision, you should look at what is in store for you when you opt for leasing or buying. Be it a business or for personal use, you should look at the various factors involved when you decide about Car Leasing vs car buying.
Comparison of buying and leasing
If you are considering a car for personal use, then look at what you need to buy a car and what the requirements are to lease on. When you are buying a car, you need a good investment that is you need money to put towards buying. If you have enough savings, you can pay the whole amount and purchase a car. Second, in the absence of funds, you can always take a car loan to buy the car. Then there are the taxes, then comes the monthly payments which may be for a long period depending upon the loan amount and the interest you have agreed to pay. Then come the monthly servicing, maintenance and so on. All these means, you have to spend a big amount every month. Also, considering the expenses, many people will opt for a cheap or small car.
Now look at the innumerable options that leasing provides. First and foremost, you need not pay any hefty price. Of course, there are leasing charges every month but when compared to the loan interest, this amount is rather low. That means you save much money on a monthly basis. If you own a business, Car Leasing is a better decision because you need not invest such a large amount of money in a vehicle and you can use the money to enhance your business which will provide you better returns than a car some years down the road.
Leasing also saves money on other aspects as well, maintenance for example. You need not worry about the servicing charges as these are included in the leasing agreement. Of course, if you look at it, leasing enables you to enjoy the car without any liability. Also, at the end of the leasing period, you can return the car and get another one on a new lease. If you have been happy with the car you were using and you do not want to let it go, you can even buy it from the dealer at the prevailing price. Thus, as a leasing period comes to an end, you will get to begin a new relationship with a new car. Isn’t that exciting?
Thus, when you consider all these factors, car leasing seems to be more beneficial, money saving and practical.