Travel and
Mileage: Leasing vs Buying
Advantage:
Buying. Here again, buying has a clear advantage. While leasing
programs do allow for a flexible mileage schedule (some range up to an allowed
20,000 miles per year), you're still locked into a set number of miles you can
drive per year/over the course of your lease. Going over your allotted mileage
comes with fees at lease-end. When you buy your vehicle, you can drive
wherever, whenever, for as long as you want. There are no
restrictions.
Features
and Options: Leasing vs Buying
Advantage:
Tie. The lower monthly payments of your lease do mean that you can
afford to lease a more expensive trim, or choose that pricey package option,
but this one really comes down to a tie. Buying your vehicle means that you can
completely customize it from the beginning, and you can choose all sorts of
accessories and parts to accessorize later on. With a lease, you're discouraged
from adding aftermarket products.
Ease of
Trade: Leasing vs Buying
Advantage:
Leasing. When you lease, you're committing to keep the vehicle for a
set period of time--typically 24 to 36 months. At the end of that time, you can
choose to keep the vehicle and pay for the remainder of the cost, or you can
bring it back to trade it for a new vehicle. Trading in your current lease to
either lease again or buy is easy and quick. When you want to trade the vehicle
you currently own, whether by private sale or at a dealership, it can be a
little more complicated.