Buying a car vs. Leasing a car
As if choosing what car you want wasn’t hard enough, often times people are caught to decide between buying a car vs. leasing a car. Both options have their pros and cons. And both are widely attractive to people for various reason. One of the biggest things you need to determine whether you buy a car vs. lease a car is to take a look in the mirror and dissect your habits and who you are as a consumer. Also it is important to decide where you stand in regard to your finances. All of these things come into play when you are deciding between buying a car vs. leasing a car.
There are many advantages to buying a car. It can help repair your credit score. It can help you build equity and many people have a sense of accomplishment when they finally send off that last car payment. Buying a car also allows you to drive your car for as many miles as you would like to. Leases are built around a length of a contract and allowable miles. Think of it like a cell phone plan where the miles you would have on lease are like limited minutes on your phone. If you go over them in the given term you will be penalized. Also if you are the type that likes to add aftermarket parts on your vehicles that would likely be a big no-no should you choose to lease a car.
Leasing a car is very attractive as well. You will often have to put down less of a down payment than you would if you were to be buying the same car and your lease payments would very likely be less than a straight car payment to a bank would be. Also since your lease payment is likely to be less than a regular car payment, you would have the option of getting a nicer car for the same money. Those who argue that you can’t drive your car as much as you would like because of the set mileage in a lease, would be countered by saying that driving the open road isn’t exactly something you do a lot, so it would be a non-issue.
If you are still struggling to decide between buying a car vs. leasing a car, please make an appointment with any of our Medved sales professionals and they will be more than happy to help you cut this Gordian knot. Before you come in please take a look at some of the new cars near Denver that get 30 mpg that we have available or the stock of reliable used cars near Denver that we have.