Buying vs Leasing a Car

Buying vs Leasing a Car
When looking for a new vehicle, a very important decision you must make is whether to buy or lease it. Buying and leasing both have their advantages and disadvantages, so read ahead to find out what is the better option for you.
The biggest advantage to purchasing a car is that you actually own the vehicle. Although it depreciates significantly and very quickly, you still own an asset. You can drive it as much as you want, seeing as there are no limits to the mileage driven like in a lease. If you drive a lot and are interested in a higher-end vehicle, buying a vehicle is most likely the better option for you.
Leasing is advantageous if you’re looking to save money and owning is not important to you. Leasing a vehicle will mean a lower monthly rate and it will also be covered under warranty for the duration of the lease. However, you may be subject to a mileage limit, which can be quite expensive if you go over. Overall, leasing is better if you don’t have a lot of cash up front and want a new vehicle to drive every few years.
Patrick Britton