Should I lease or buy a car? This is a question that many people looking for a new car are asking. Read here to find out the answers you need.
Deciding whether to lease or buy a car is an important choice. It depends on a lot of factors, mostly being your budget, lifestyle, and needs from the car.
About a third of US consumers lease cars, which is a record high. Is this increasing trend due to a financial advantage or is it need-based?
And most importantly, is it a wiser financial choice to lease or buy a car? Let's break it down.
Getting a new car is a big commitment. You have to figure out the car that fits your taste, lifestyle, and budget. Once you have a sense of what you like and want, it's important to consider whether you should lease or buy a car.
Buying is a better financial choice in the long-run, if you can keep up with the higher payments. Once you buy your next car, you'll get a big chunk of change back from selling or trading in your car.
Leasing is a viable option if you don't plan to keep a car for more than a few years, such as if you are in college or temporarily relocating for business and don't drive more than the term mileage in your lease.
Want more? Check out our other helpful blog posts such as, "Find Competitive Vehicle Insurance Rates Online" and "Compare Personal Loans Interest Rates before Applying."
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