Car,Leasing,Buying,what,the,di car Car Leasing Vs Buying what is the difference?
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Very often, when purchasing a new car, people are faced with thedecision of whether to lease or buy their next vehicle. They willautomatically ask themselves the question is car leasing better than buying?The answer? Well, its very subjective and is really down to the specific needs of the individual making the purchase.Essentially, they are two different methods of financing your nextcar purchase a loan will finance the purchase of the vehicle, whereasleasing will finance the use of it deciding which option to take willdepend on a number of factors do you want a new car every 2/3 yearswith low repair and maintenance risk? Would you prefer full ownershipand a long term saving over low monthly payments?To help you fully understand the difference if you are to buy acar, you pay for the full cost regardless of how many miles you willdrive in it. Generally, a car buyer would make a down payment and thencover the rest of the value and additional costs incurred via a longterm loan. The car is then yours to do with as you please sell it ata later date or part exchange it at its depreciated value.If you are to lease a car, you are paying for a fraction of the carsvalue that which you will use during the term of the lease. At theend of this, you may return the vehicle with no obligation to buy.The best way to think about it is this the short term cost ofleasing is generally less than that of buying whilst the long term costof buying is less than that of leasing. After that, its more thanlikely to be a question of full time ownership vs a new car every 2/3years. In any case, there is no definitive answer to suggest which oneis best, thats entirely up to you, but be sure to fully understand thedifference before making your decision.
Car,Leasing,Buying,what,the,di