Looking for your next vehicle? There are a lot of options out there. To help you figure out whether buying or leasing is best for you, here are advantages of each option.
When you lease a vehicle, you get to enjoy it at its prime. You don’t have to put up with an aging vehicle with technology that grows more and more obsolete every year. Automotive technology evolves fast. Leasing can help you enjoy the most cutting-edge technology (which includes in-cabin, safety and engine technology).
From a financial perspective, leasing typical involves a lower down payment and lower monthly payments when compared to buying a vehicle.
The best part of buying is that with every payment, you are gaining more and more equity. This is different lease, which can be viewed as long-term rental.
Buying also affords you more freedom. Leases come with wear and tear as well as mileage restrictions. When you own your vehicle, you can put as many miles as on it as you want.
In the end, it’s all about how long you like to keep your vehicle. For some people, they prefer to keep their vehicles a long time. For them, buying is better. For others who prefer to drive a vehicle for a few years, leasing is more appropriate.