Buying or Leasing a Car – What Is Your Option?

Buying a new car can always be an exciting experience. However, all your fun and excitement of having a new car will get clouded quickly when you have to decide its financing process and also negotiation of price. 

These days many buyers are therefore considering car leasing options instead of blocking so much money on buying. However, the question still remains, whether the leasing option is better than buying? In this article, we shall look at both the options and make a comparison so that it can help you also make a better decision. 

Nowadays you can find a top rated auto broker service from companies like Lease A Car Direct who has got plenty of experience of making a good leasing deal. Generally, a car leasing deal involves a lot of things where you will need the support of any experienced people who can be your side to offer you the best deal. 

Let us see the pros and cons of both these options in the following paragraph.236/4=59

BUYING A CAR

While buying a car you have to either pay cash for the cost of your car or finance it through a loan for covering its cost. 

Pros:

1. If you buy a car, then you become its owner immediately and you are free to drive anywhere for any amount of distance.
2. Whenever you want to sell your car, you are free to do so and need not seek any permission.
3. As a buyer, you will have to pay a lesser amount of insurance premium as compared to a leased car.

Cons:

1. You have to pay a large chunk of your bank balance if you want to make a down payment. If you go for a loan then every month you have to pay the loan installment.
2. The moment you drive your car out of the showroom, it will start depreciating in its value.
3. By preferring loan, you end up paying the principle and also its interest and that makes your car more expensive and you cannot recover it by reselling.  

LEASING A CAR

Leasing is relatively a new concept of owning a car, which may be quite confusing for those who never had done it before. Let us see both its pros and cons.

Pros:

1. By paying a very little amount you can get the opportunity to drive a brand new car of the latest model.
2. Your monthly payments will be much lower than thebuying option.
3. You need not worry about the depreciation value of your car. 
4. For business owners, car leasing may offer certain tax advantages if you use it for business purposes.

Cons:

1. You will never own your car and there will be certain restrictions on driving.
2. If you prefer to go for long drives too often, then this will not be an ideal choice.
3. Insurers will also charge you a higher premium.

Having gone into the details of both the options now you can take your better decision whether it will be the right decision to buy or lease a car.