Owning a car is a complicated affair. Whether you’re a new driver still figuring out how to make the gearbox do what you want in traffic or a veteran automobile operator who learned how to take tough corners on a car with no power steering, navigating the world of buying a car of your own is always a needlessly challenging struggle.
This is perhaps why some folk choose to lease their cars instead of buying them. Similar to renting but over a longer period of time, leasing a car enables individuals to use it whenever they want without the full responsibility of permanent ownership.
But which is the better option to choose for your next (or first) vehicle purchase? In the following article, we will take a close look at owning a car versus leasing one.
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Owning A Car
Traditionally, if you want to drive a car on a regular basis, you simply need to buy one. There are a few different ways to go about doing this in the modern world. One of the best and easiest ways is to look around at the latest car showrooms at dealerships around the city and test drive new (or used) models of models you particularly like to see which is the best fit for you. However, when you buy to own you really have to pick right: this is the car you’re going to be driving until it gives up on you, so you want to get along with its functions and forms darn well!
Alternatively, you could use the internet to find a new or used car that suits your taste. Plenty of websites exist that offer specific types of cars to buy, as well as myriad options for how to test drive and finance it through various different means. Again, though, this is a major choice if you are looking to buy: ensuring that your online car sale is legitimate and safe and that the seller isn’t lying to you about the state of the car is key.
Leasing A Car
When considering leasing vs owning, one immediate and obvious benefit of the former is that it is not a permanent arrangement. Leasing is a rental agreement that takes place between a permanent car owner and a person who wishes to use it, unrestricted, for a set length of time. In many ways it is exactly like renting, only it takes place over a longer time and has fewer restrictions for use.
You need to consider the cost of leasing a car. If you are taking on back-to-back leases, for example, you are going to end up spending more money than if you had simply bought one single car. In addition, you may be hit with small costs incurred in the course of normal day-to-day driving: engine issues, replacements, etc. Depending on your agreement you will be on the hook for these costs as well as the cost of your ongoing lease.