Are you thinking about owning a car but don’t know whether to lease or buy one? Choosing either option depends on your priorities. Buying a car has its perks, but if lower monthly payments appeal to you, then leasing a car could be ideal. In this article, you’ll know more about buying and leasing a vehicle. Here are some of them:
Monthly Payments
Generally, monthly loans for a brand-new car have higher monthly costs compared to lease payments. This is because you would be paying towards the ownership of the car you want. So leasing can be an advantage if you’re concerned about the amount of your monthly payments.
Car loan payments are usually based on the selling price, interest, and the total number of months or years it will take to complete the payment loan. Meanwhile, leasing allows you to pay only for the difference between the vehicle’s selling price and residual value.
Car Upgrade
Driving a new car every few years is definitely a luxury! This is something that many cannot afford with car buying. But leasing allows motorists to enjoy driving a new auto every two or four years. Simply return the car once your lease contract is up and you can get your brand-new vehicle.
Auto Maintenance
When you lease a new car, you can be assured that any issues or repairs will be covered. This is because brand-new autos often come with warranties that can last for at least three years. You won’t have to worry about extra costs for repairs or replacements.
For cars that are to be owned, you will have to consider paying for regular maintenance costs. Oil changes, fluid replacements, and tune-ups all must be done consistently to ensure the vehicle runs well over time.
Returns and Trade-Ins
If you’re not into haggling, then you don’t have to worry about negotiating with dealerships or car buyers to purchase your used car. Selling a used car can be challenging, especially when it has reached depreciation. With leasing, you only return the car. Just make sure to settle any end-of-lease fees and you’re good to go.
Meanwhile, you may be able to trade in your used car that was previously bought from either a dealership or private party. This can save you money when purchasing a newer vehicle. But consider that you could pay a higher monthly amount for the new vehicle.
Junge Automotive Group: The Car Dealership You Can Trust!
At the end of the day, choosing between car leasing or buying will depend on what works best for you. If you’re ready to lease or purchase a vehicle, turn to Junge Automotive Group! We will help you find the perfect vehicle that can fit your needs. Our financing team can also assist you with any concerns you may have. Get in touch with our professional team today to find out more!