So, it’s time for you to get behind the wheel of a new vehicle. When this time comes, you have several choices to make. One of the biggest decisions to make is leasing vs. buying. To learn if you should buy or lease your next vehicle, keep reading.
Both buying and leasing have many benefits. However, one option may be more appealing for you than the other. When buying a vehicle, you make payments on the vehicle until it is paid off, and then it is yours forever. With leasing, you make monthly payments on a vehicle and return the vehicle when your lease expires.
Buying is beneficial for those who want to own their car. If you want to customize your car, you can do so when buying. You can also keep your car in the family for years to come, or sell it one day.
Meanwhile, leasing is ideal for the driver who isn’t committed to one car. When leasing, you can get behind the wheel of the latest models. Once your lease expires, you can return your lease and pick another brand new car to drive. If you’re interested in the latest and greatest vehicles on the road, try out leasing.
Buying isn’t for everyone. When buying, you will likely have to make a down payment. If you don’t have a lot of money at the time of purchase, this could be stressful for you. Monthly payments can also be more expensive when buying instead of leasing.
Leasing has its downfalls as well. When leasing, you can’t customize your vehicle. Many lease agreements also include mileage caps. If you commute long distances for work or enjoy road trips, a leased car may not be the right choice for you.
Now that you know the perks and downfalls of buying and leasing, you’re reading to decide which is better for your specific needs. At My Maven Autos, we are the premier concierge leasing and car buying professionals. To get in touch with us, give us a call at 631-696-2836 today!