Have you ever thought to yourself recently, “Should I get a new car?” and “Is it worth it?” Well, you are in luck. If you did, then this article might be the answer to your dilemma! Many people thought long and hard about whether they should buy a car or lease one, and they should! Second to purchasing a home, buying a new car will be one of the hardest decisions you can make. We get it, cars are expensive, and not a great deal of people can afford them. Keep an open mind that there are many cars out there that are both affordable and economical like the kia cerato which is a better choice than the volkswagen golf or the mitsubishi lancer. Regardless, buying cars are great investments on their own.
Here are several benefits of buying a car rather than leasing it:
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You Own the Vehicle
This is easily one of the best feelings in the world when you just bought a brand-new car. On the other hand, while leasing, unfortunately, the leasing company holds the rights to the vehicle, and you are just renting it. Therefore, some rules and limits will be imposed on you as you don’t own the vehicle, e.g., you are not allowed to customize the vehicle, change its color, drive them to certain places, etc. The worst part is, should you befall a misfortune like the stolen vehicle. Albeit you have paid the leasing fee, you will have to restart a new leasing agreement that will levy you more money.
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You Have to Make Regular Payments
Unlike buying, you will have to meet their payment terms and regularly pay to keep using the vehicle. And since the vehicle prices are rising, your leasing company will undoubtedly impose a higher leasing price.
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No Mileage Limit
Yep, you heard it right. Leasing companies have a stringent mileage limit, and they will charge you for every mile you exceed. This is easily one of the worst downsides of leasing a car, as you never know what could happen in the span of the next three or four years. What if you work far away, or what if you have to make a regular visit to your friends and families, or what if you have business out of town. But if you own the vehicle, you can do as you please, and the price of freedom is not cheap. This brings us to our next benefit.
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No Restrictions
A leasing company has the power and authority to restrict where you are able to drive the vehicle. For instance, you are not allowed to take the car off-road or drive them to Mexico’s border, etc. There are some cases where a naughty lessee has been fined a hefty sum of money for taking their leased vehicle out of the country.
The Bottom Line
Figure out first what you are going to do with the vehicle once you have it. Either you buy it, or you lease it; going with a plan in mind is better than no plan at all. Your financial condition will be the decisive factor in getting you in that driver’s seat.…
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