The pros and cons of leasing a car!

Clara

No matter where one goes in life, one relies on transport to get from point A to point B. Whether one needs transportation for work, to get children to school, or for road trips, life is easier when one has a car. Two main options for getting a vehicle are purchasing one or leasing one. If one decides to buy a vehicle, the car will have that client as an owner. However, if leasing a vehicle, one will receive a new car every couple of years and not officially ‘own’ it. Therefore, it is best to do a variety of research and read many reviews to gain all the information. For example, one can read reviews on why leasing a car is smart, or one can look at websites like race chip to see what different cars are available and speak to people at customer support and gain their opinion. After that, one can make an informed decision.

What are the advantages of car leasing?

Car leasing allows one to have lower monthly costs and can afford a more luxurious car. In addition, if you are leasing a vehicle, it means that once the lease is up, you can receive a new car. So not only do you have a new vehicle, but newer models represent the latest technology and design. So you will be benefiting like that as well. Furthermore, depending on the length of time that one will lease the car for, usually three years, the warranty will typically cover this period which means that should one need a repair or something go wrong with the vehicle. The warranty will cover the repairs and maintenance, thus saving one much money.

What are the disadvantages of leasing a car?

Should one decide to lease a car, some disadvantages accompany the abovementioned advantages. For example, leasing a car means one has little control over the situation. One will not be able to control trading the vehicle in or selling it and use that cost to aid the purchase of a new vehicle. Furthermore, if one leases a car, the contract needs to be read in extreme detail as there are many hidden fees and secret costs. Fees for excess mileage, wear and tear, and early termination will add up quickly. Furthermore, one cannot modify the car as they do not own it. So adding bumper stickers and personalizing them will not be allowed. 

Weigh up all the options

Leasing a car has many advantages and disadvantages, like most aspects of life, so the decision lies in the customer’s hands. Before deciding this, ensure sufficient research is gathered, look at budgets and family needs, and then select. If you are someone who wants to modify the car as you go and hold on to it, then leasing is maybe not for you. However, if you do not mind moving from car to car, then leasing might work out. Remember that you can terminate a lease, so it is not something you will be stuck with. So keep all this in mind when deciding what you will do. 

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