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.