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Buying vs Leasing A Car - Which Is Right For You?

Buying a car is often a complicated and tedious process. A process filled with research that can be overwhelming and therefore off-putting. There are many options and even more decisions before you walk away with the vehicle of your dreams. One of those options, is whether to buy a car or lease a car. Alberta Honda wants to help you understand the advantages and disadvantages between these two options. 

Here’s how they compare. 

Why should you buy a car instead of leasing a car

  • You own your vehicle outright.  
  • Because you own, you have the ability to customize or upgrade.
  • You can keep the vehicle for as long or as short as you’d like.
  • Over time your car becomes equity which you can use down the road.
  • There really is no price of comfort, and what’s more comfortable than familiarity.

 

Why you would rather lease a car

  • Not bogged down by long term commitment.
  • Short term leases keep vehicles under warranty.
  • Feels like you’re always driving new.
  • Don’t have to deal with vehicle depreciating value.
  • More affordable if you can’t afford a down payment.

 

To sum up - with leasing a car, you get a new vehicle with no long term commitment to lock you in, if you want to buy a car, you’re allotted freedoms that leasing does not offer you. Both have their benefits, it really all depends on what you’re looking for in a vehicle. 

 

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