Whether you should buy a car or go for business car lease is amongst the hardest decisions. After all, one wrong move can bring so many financial implications that are sometimes hard to recover from. Many people base their decision of buying or leasing a car on money, however, this should not be the case. There are so many more things that need to be taken into consideration when trying to come to a conclusion such a decision. It is important to know that your personal preferences and goals are equally important as your budget when deciding this matter and there’s no denying it.
When it comes to leasing a car, the monthly payments are lower and don’t cause your bank balance to go out too soon. The total lease payment generally turns out to be much lower than the actual cost of the car. No doubt, this is a major benefit of leasing a car. Moreover, you do not have to worry about repair expenses if the car is on lease. This applies to the cases where there is manufacturer’s warranty during the lease period. However, you will still be expected to pay for regular checkups of your car. If you wish to get rid of the car at any point, you can choose to return the car and lease a new one in its place. This saves you from the inconvenience that comes with selling a car using your own expertise and efforts. Above all, getting a car on lease does not reuire any kind of approval which furthers adds to your convenience.
In the long run, buying a car turns out to be less expensive. The cost of the car maybe high, but when you use it for several years, it starts paying off the money you paid for it. You are not bound when you have a car your own name. You can sell or trade whenever and wherever you like. One of the major issues with leasing a car is that you don’t have the freedom to drive as many miles as you wish and you are asked to pay a heavy fee if you exceed the limit given by the company. However, this is not the case with buying a car. Drive as much as you want without the fear of being charged for driving ten extra miles. Also, when you have your own car and there’s no other part involved, then you are always at a better place. This is because you can choose to make amendments and modifications in the appearance of your car according to our likes and no one will say a word. Nothing beats the freedom that comes with having your own car.
We believe, if you are concerned about the ownership and having something to cherish for as long as you want, you should definitely go for buying your own car. Leasing is basically like renting and ultimately the vehicle belongs to someone else and you cannot really do anything about it.