Buying a car is a big financial decision, and many people plan to buy it. Several times, it takes years and years to save money or you borrow money in the form of personal loans. And, when you purchase the car, you have to stay on rigid budgeting because of “Large Money Outgoing”.
In many cases, it was noticed that people fail to regain financial stability fast. Buying a car, and bear the maintenance cost are two different things. But, people forget to consider the second one and put themselves into a profound nuisance. And at last, they either sell the car or feel as abandoned.
You can see that purchasing a car is a hectic task that comes with several money problems. This option is only reliable for those who can manage the cost. But, there are alternative through which you can fulfill the dream of having a car. It is known as “Leasing a Car”.
Let’s see what makes it a perfect option to accomplish the goal of the car.
It is the opportunity offered by the automobile companies. In this, you can get the car, or you can say a rental service for a specific time duration. Though, the price to obtain a vehicle depends on the firm, as well on period.
Leasing a car is much better than buying a car. How? Let’s have a look at the difference.
We have covered 3 points that can help you to understand better what makes it the best choice.
|Leasing a Car||Buying a Car|
|In this method, you can arrange the funds with various options, like 0 finance car deals or you can use the savings funds. However, you can not own a car, because here you have to return before the period ends. |
However, 0 car finance deals with no deposit are available for either six or seven months. And if you have a bad credit history, then chances to extended period becomes high. In this, you do not have to pay any interest rate. Repay the full money in installment, and clear them off.
|It requires extensive planning and strategy. Many times you have to create a separate budget plan so that it could not impinge on the financial stability. Conversely, following such a technique is not an easy task, or you can direct this only when you acquire immense financial stability.|
Leasing a Car
Buying a Car
|If the time increases, and you want to sell the car, then gaining the exact amount is not possible. Nevertheless, the purchaser can hardly pay the 20% value of the vehicle. And no query it will affect the indirect finance way.||It is another critical benefit of leasing. The car is the depreciating asset, and the value goes down with time. You will surprise to know that it goes down exponentially. But, leasing will not affect it both financially and amount.|
On another side, you do not have any equity on the vehicle. So, no matter what will be the future value, you can enjoy by driving a car.
Leasing a Car
Buying a Car
|In case of leasing managing cost is easy as with used car 0 finance deals, but in case buying such an option may not work for you. It will boost nothing but increase anxiety about managing unexpected costs. |
Now, we hope that you understand why leasing is much better options as compared to buying. Still, we cannot deny that having “OWN” car offers a much better experience than leasing.
But, at the same time, it affects the financial situation, if you think that you can manage the cost, only then go for it. So, analyse the current financial situation, and make a decision.
|Apart from money-saving,|
it can help you to deduct the many problems. There are many other hidden costs that the buyer comes to know after the purchase. It occurs most when one forgets to ask a different question.
Though reason may vary, one has to face the consequence.
In case of leasing, even if you come to know about the hidden cost, then you can back the car after a period.