If you need a new car and you’re in the market to buy, you’ve probably already heard that leasing is a terrible idea. Leasing, after all, means you’ll be paying a monthly fee for a car you probably won’t even own for a year. But is it really a bad idea? According to some, leasing is a terrible idea. In fact, there are a lot of factors that make buying a car a better financial decision than leasing. In fact, some cars simply will not work for a leasing program, particularly if you’re leasing a small car.
Buying a used car has a lot of benefits over leasing a new one, so why lease a new car? Let’s take a look at a few of the advantages.
4 Benefits of Buying A Car Instead of Leasing
- You own the car –
Leasing a car is an easy way to get a good car for a good price. But you may not like the car the minute you get it, and you may find yourself in a situation where you can’t even sell that car. This is when it’s time to buy a car. Owning a car means you can do whatever you want with it, whether it’s a used plymouth audi bought on sale or a brand new BMW. You can sell it or trade it whenever you want.
Buying a car is the best way to get the best bang for your buck! When you own a car, you can do whatever you want with it. You can really make it your own, and turn it into a statement by decorating and modifying it the way you want. A number of things like adding new sound systems, paint jobs, putting die cut stickers on the back, etc. can be done when you own a car but not when you lease it. Now, I know people may think that buying a car is a waste of money because you don’t get the tax breaks that come with leasing but think about it: That’s where the tax breaks come from! You can park your car, you can sell it or trade it, and you can even keep the money you make from selling it. Best of all, you don’t have to pay a cent until you sell your car, and you can even sell your car a year after you bought it!
- You get to keep the car –
Buying a car is a great way to get the car you want, the car you need, and the car you can afford. And in case, you can’t afford the first-hand piece of the car you want, you can always go for a used one, which is often available at a discounted price (if this interests you, you can click here to visit ZeMotor). And it can be a better deal for you too. You get to keep the car you get, you don’t pay for the depreciation, and you get to keep it for five years instead of two years.
- No PMI (Principal, Interest, and Insurance)-
A lease is a type of contract that can get you into a vehicle for a set period of time. It’s a great way to get a vehicle without paying for it. Many times, we find ourselves wanting to get a new car, but we aren’t sure we can afford one. Think about this: you could lease a car for three years, and by the time you come to the end of the lease, you will have paid for the car and your down payment, and you will still have the car! After the end of the lease, you could own the car.
It’s no secret that car manufacturers offer some pretty sweet perks for people who lease their vehicle. But, while you may get the same shiny new ride after a few years of payments, you often end up with a lot of financial responsibilities you don’t get with a new car purchase. Unless, of course, you are fortunate enough to have a no-interest plan.
Another thing to consider is that you may have bought a low-emission car to reduce the long-term fuel costs and for sustainability. However, it’s worth noting that some companies tampered with these vehicles to make them seem low-emission, when the cars actually emit a regular amount of fuel. If you suspect that the car that you have rented or bought may fall in this category, you can get in touch with experts at dieselemissionclaims.co.uk or elsewhere, and find out if you are eligible for compensation. If you have rented a car that falls in this category, you might find it harder to avail the compensation, but as an owner, it would be easier to trace the amount spent on the car’s maintenance and fuel.
- Better Investment-
It’s a great feeling to have a car in your driveway, and it’s an even greater feeling to have a car you purchased yourself. But if you have a car loan, you have to pay for it, and getting a car loan is a hassle. So, if you want a new car without a loan, you have to pay cash. In addition to saving money, you also have a higher chance of getting a better car.
If you have ever bought a car, you know you don’t have to worry about the car’s value going down. If you buy a car, you can resell it, and if you don’t like the car, you can trade it in for a new one. You never have to worry about paying for a lease because if you don’t want the car, you can sell it.