Since buying a car is one of the biggest purchases can be
made, it’s wise to take a look at all options. Both leasing and buying have
advantages and disadvantages. Since if you really only want to drive the car
for a few years, leasing is the most convenient option.
The most obvious difference is that with a lease, you get a
new car every few years and don’t have to deal with the hassle of selling the
car later; just hand the keys over to the dealer and get a new lease.
Leasing a car often has a lower monthly payment compared to
financing a car with the same loan terms, since with a lease you’re paying for
the depreciation of the car during those years rather than the whole vehicle
cost. If you need access to more cash every month, leasing may be more
favorable.
Most lease agreements have low down payments or you can get
the dealer to waive the down payment, and you’ll pay less for the sales tax on
a lease as well. As with the lower down payment, leasing has a smaller impact
on your budget and cash balance.
There are other considerations, such as lifestyle ones (do
you want to always have the latest auto tech?) and avoiding having to deal with
hefty repair bills for an older car, in which leasing may seem more favorable,
or whether you want to avoid confusing terms and agreements (buying may be
better).
Leasing companies may not approve you for a lease if you
have bad credit history, but then again some loan providers may not approve you
either. But with AutoFlex Leasing if you have bad credit don't worry about
leasing a car. AutoFlex Leasing guarantee to give you the best solution to own
a car with minimum cost.
Benefits of leasing:
- Does not tie you down to a single vehicle and gives you the option of upgrading your car every two or three years.
- Requires less upfront money.
- Is an option for people who travel frequently and need a car in different locations.
- Leasing may be a good option for businesses who don't want their cash flow tied up in a depreciating asset.
