General Tips

Leasing vs. buying a car – advantages and disadvantages

When it comes to vehicles, some people choose to purchase while other to lease. Few talk about other alternatives, such as lease to buy or buying a used car. The “lease to buy” option allows you to purchase the vehicle at the end of the lease period. Generally, the dealer estimates the price based on the car’s residual value but you are free to verify the real market value. For those who want to buy a used car, they can find used Jeep Wrangler in Los Angeles.

Leasing vs. buying a car-advantages and disadvantages

Buying

If you intend to purchase a vehicle, it means that you are prepared for a long-term commitment. You probably already explored different models of both new and used cars and their features. However, you have to consider the positive and negative aspects of your decision. Obviously, you will pay for its full value in exchange of permanent ownership. You have the freedom to drive when and where you like without having to worry about additional fees. Moreover, you have the possibility to customize the vehicle in order to suit your needs and preferences better or sell it. When it comes to disadvantages, you will have to pay higher monthly payments in comparison to leasing. Furthermore, if you experience mechanical problems after the warranty expires, then you have to cover the repair costs on your own because it automatically becomes your responsibility. Inevitably, the repair expenses will increase over the years because the vehicle will wear down.

Leasing

Obviously, leasing is a considerably more affordable alternative suitable for people who wish to drive expensive vehicles but they do not have the financial possibilities to make their dream come true. Even more, it gives you the freedom to change the model every few years if you get bored, according to the lease program. In terms of warranty, you have the certainty that the vehicle is covered and you will not have to support repair bills or high maintenance. The last advantage is that you do not have to deal with the hassle of selling or trading the car. One of the main disadvantages of leasing is mileage limit meaning that if you want to prevent additional fees, you do not have to exceed a certain number of miles per year. Thus, if you need to travel long distances frequently or you do not like to feel restrained, you will have to think twice before resorting to this alternative.