Is Leasing A Car Better Than Buying One?

What is leasing?

When you lease a can, you essential rent it. It’s almost like buying it for yourself, except you pay a lower price as it’s not completely your responsibility. Just like buying a car, you have access to drive it whenever you want, but you have to pay in installments to keep it. Leasing a car can be either more or less expensive for you than buying one on your own, depending completely on your lifestyle. So how do you know if you should lease a car instead? Well, you need to look at your overall situation, like what you like to do in your free time, what you do for work, and how much you make! 

Who is leasing for?

Leasing a car can seem like a cheaper alternative at first, but that really depends on the individual. You often hear of people who are wealthier leasing cars on the more expensive side of the spectrum, but the savings mostly come down to how you treat the car and how long you want it for. Basically when you lease a car, you have to stick to a contract and you can’t go back on it, so you have to make sure you’re prepared to pay fully on those installments, otherwise, you might find yourself having to pay for extra months. 

You might find that if you want full freedom with your car, leasing isn’t the right step for you. The amount you use it can affect your fees too, so not only would you have to pay for extra fuel, but you’ll be paying the extra mileage fees instead. You also need to consider the wear and tear that you might be prone to. If you’re likely to get any kind of scratches or damages on the car, then the repair costs might actually come to more costs that you’d get with your own car. If you’re not really into your car, then certain scratches or bumps wouldn’t be something you would spend your money on fixing.

(Source: Pexels)

How does it work?

There are many services out there that you can reach out to for a lease, some of them offer different options and deals based on what car you’re after. You can use services like Intelligent Car Leasing to find out what you might expect to pay, and how the car will be delivered. The process doesn’t include any test drives or visits to their buildings, as you can apply online or by phone, so make sure to have your details on hand! It’s quite convenient that you can have it delivered considering it’s likely you don’t have your own means of travel.

Car leasing is for those who don’t intend to travel much with it and don’t expect to be at risk for any kinds of damage. You need to make sure you’re secure financially and prepared to sit out a whole contract with the car. With your own vehicles, you would be able to just sell it and look for another, however with leasing once the contract is over, you’re not getting the money back that you’ve spent on it.