All your life, you might have nurtured dreams of buying a car, parking it in front of your house and turning a few heads. It is the most human dream to dream of. But, buying a car does not happen that easily. There is a process that you need to follow and more than the process, it calls for a considerable amount of cash to be dished out either from your own pockets or by applying for a car loan. While accessible car loans have made it really easy for anyone in this day and age to get their hands on their most coveted dream, the temptation has also given rise to several loan defaulters. Once there is a mishap, and you become a defaulter, you shall have an incredibly tough time to pull yourself out of the muck of legal complications. Therefore, this begs the question- is leasing a car a more feasible option than buying a car?
This article examines all the benefits of leasing a car since buying might not be viable for many out there. But that does not mean that you must give up on your dreams of traveling luxuriously in a car. There are several ways of materializing that option, leasing is one of them. If you want some added information regarding renting and leasing of cars, click here and make a better decision today.
The Benefits of Leasing a Car:
The benefits of leasing a car over buying a car are many. But you must always gauge your situation before making a decision about leasing a car. Things like these always vary from person to person. Leasing a car might work out well for you and not your friend. Therefore, there is no one universal rule to it. But, if you are looking for a general overview of leasing a car, let this article serve as a guide to all your queries.
Lower Monthly Payments-
The very first benefit of leasing a car is the factor of cost. Leasing obviously costs much less than buying a car, which is a big aspect to be considered while listing out the benefits. You will have saved a lot because the monthly payments on your car will not tug at your purse strings. Plus, you do not have to worry about the different kinds of taxes, like the sales tax and a hoard of others since they are costs that are associated only with the purchase of cars.
Lesser Costs of Repairs-
When you get a car on a lease, you do not have to spend all your time worrying about the costs of damage repairs. You do not owe the car much even if they hit a rock or is dented. Of course, that does not give you a blank cheque to handle the car whichever way you want to. You are still entitled to some maintenance fee. But, they are not as much as you would have to pay from your own pockets for your car. The cost of repairs is significantly low for a car that you have gotten on a lease than a car that you have purchased.
Feeling of Driving a New Car at Regular Intervals-
Once you purchase a car, you are stuck with it forever or let us just say, for a significantly long period of time. You can do very little to upgrade it to keep up with the ever-changing and ever-evolving automobile market. Even if you want to upgrade the look and feel of your car, you will have to spend a considerable amount of money on it. This is not an option that everyone can consider. But if you get a car on a lease, you can always drive a new car and keep up with the latest models that keep flooding the market. That is some feel that you can get used to, is it not?
No Question of Getting Rid of Your Old Car-
After a point of time, you might get bored of your car and want to sell it off. Or it might stop serving you much use after a specific period of time. Therefore, you might want to sell it off. However, selling a car might sound very easy, but the reality is often different, and especially once you have an aged car. With a car on a lease, you have no worries about selling the car. You can drive a new car after every few months, and that is more like a blessing in disguise.
Nobody will understand your situation better than you. While it is excellent to harbour thoughts of purchasing a car (it is a great investment, after all), not everyone can afford that, for various reasons. Finance is just one of them. People might always be on the move in which case buying a car does not sound like a feasible plan. Therefore, analyze your lifestyle and only then proceed to make a decision regarding leasing a car.