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Buying vs Leasing

buying-vs-leasing

Buying vs. Leasing

Deciding whether to buy or lease a car can be a tough decision to make if you don’t really know what the differences are. In reality, buying and leasing both have their pros and cons.

Buying a car seems like a good long-term investment. And it is, if you can afford the payments and are interested in keeping a car for long enough to pay off your loan. Lots of people trade their financed cars in after a few years, of course, but one of the main benefits of buying is that eventually you’ll pay it off and stop having a car payment. Your payment will be higher than a lease payment, but you’ll save money in the long run.

Leasing is great for people who want smaller payments and aren’t ready to invest in a permanent purchase. It’s also good because you get a new car every few years, and especially for car tech enthusiasts, leasing lets you experience the latest technologies. The downside is that there are mileage limits on leased cars, so if you’re a big traveler, leasing might not be for you.