Buying vs. leases

Buying vs. leases

Which one is better?

I have never leased a car before, but I have conducted on research on the differences of buying and leasing. Both options are great and there are benefits of each.

If you buy a car, you will have payments to make for the next 36 to 72 months. You will most likely have a warranty on the car for a period of time, but this usually expires before you are finished paying it off. If you lease a car, you will also have payments to make for the same amount of time. The difference is that the car will be covered under a warranty for the entire time.

One of the big differences in buying and leasing involves the car after the time frame is up. If you purchase a car and pay it off in three years, the car will be yours after the three years is up. You can keep the car, sell it or trade it in and you will be able to advantage of its value. If you lease a car, you will simply turn the car in when the lease is up and you have nothing of value left. This is probably one of the biggest determining factors that cause people to avoid leasing cars.

One of the reasons people do lease cars though is because of the warranty. If something breaks while you are leasing the car, you will not have to pay for the repairs. Almost all repairs are covered under the lease that you have.