Many people wonder whether buying or leasing a car makes the most sense for them. This is an important decision that can affect you for years to come. It’s important to understand a couple of the main factors that go into determining the right option for you.
One of the key factors is how much you drive. If you drive a lot, a lease would probably not be right for you since most lease agreements make you pay extra if you go over certain mileage limits. The mileage limits on a lease are usually around ten to fifteen thousand miles.
A lease can be a great option if you don’t have a lot of money for a downpayment. Sometimes you can even get the dealer to waive the down payment. A lease also has a lesser sales tax to it in most states since the tax is calculated by your monthly payment and not the cost of the car. Looking up used cars for sale in Glendale CA, can be a great way to find a lease with good terms. Going to a reputable leasing broker like F1 Auto Leasing is a great way to get help finding the right lease for you. Leasing is a popular and attractive option that is becoming even more so. One out of every three cars is leased today.
Still many people choose to buy their car even though a car payment is more than a lease payment because they like the idea of eventually owning the car outright. It’s true that with a lease you may not own the car, but you can always upgrade or change over to a different one once your lease is up. If perhaps financially you don’t want any sort of payment or just like the idea of owning your vehicle then buying a car may be right for you. If you can, buying a car outright is a good option to avoid having to pay the interest in addition to car payments.
If you’re typically hard on car and put a lot of wear and tear on your vehicles then a lease may not be for you. This is because many leases have stipulations about wear and tear fees which are fees you have to pay for not keeping the car in top notch shape. Usually, these fees come out to be about three months worth of lease payments.