There are lots of choices to be made when you’re in the market for a new car. Even after you’ve settled on make, model, paint color, and any upgrades you may want, there’s still one big decision left to make: to buy or lease a car? We’ve got the pros and cons below to help you decide which one is right for you.
If You Like to Keep Up With Trends…
If having the latest and greatest in technology or style is important to you, leasing a car is probably a better option. When the end of the lease term is up, you can walk away from your old car and pick out something completely different to drive.
If You Don’t Like Making a Car Payment…
No one likes paying bills. While leasing a car requires lower payments than buying a car, your payment on them never goes away. If you buy a car you’ll have a higher payment each month but you can eventually pay it off. There are also many
advantages to owning a car that is paid off in full.
If You Don’t Want to Deal with Car Repairs…
The beauty of leasing a car is the fact that it’s brand new. For the lifetime of the lease, the car will be under warranty. Aside from small maintenance costs, like having the oil changed, you won’t have unexpected costs come up with your vehicle.
If You Want to Drive Your Car However You’d Like…
Many car leases come with restrictions. You have to stay within
certain car mileage, the car can’t have aftermarket modifications, and usually has to be returned in the same condition it was in when it left the dealership. If you want to take long road trips or take on a few DIY projects with your car, you’d be better off buying a car.
If You Don’t Want the Hassle of Selling Your Car…
When you lease a car, all you have to do is return it to the dealership when the lease agreement is over. No need to try to get the best trade-in value or find a buyer independently. As long as you’ve maintained the car to the standards in the agreement, you’re free to go out and pick out your next car to lease.
If You Don’t Have the Best Credit Score…
Leasing a car could be a much more expensive option if your credit score isn’t as high as you would like. The good news is that by purchasing a less expensive car and making all the payments on time can help you improve your score. If leasing is something you’d like to do in the future, purchasing now can be smart for your long-term goals.
Whether you decide to lease or buy your next vehicle, there’s no easier way to get cash for your car, truck, or SUV than with
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