The debate over whether to lease or buy a new car has been raging on for years. Most people put it that the decision is simply a matter of priority. According to them, if a person desires a new car, he can either decide to buy or to lease. Buying would give him complete ownership of the vehicle while leasing would allow him to have the vehicle for a while without the associated hassles of ownership. However, an expert review of both buying and leasing shows that the latter is considerably better in certain conditions. There are seven specific ways in which leasing is better than buying a new car.
Drive the best car
Every vehicle owner has a dream car that they aspire to drive. Florida, is an image driven city. This is because many people opt to lease rather than buy. The city also favors imports. In most cases imports are luxury brands. Car dealers in Brooklyn Florida are therefore able to offer more attractive leasing deals. Leasing affords you the opportunity to drive your dream car.
Making Payments Only For Depreciation
Most people hesitate to buy a new car because of the associated depreciation. Once new vehicles are on the road, they start depreciating immediately. The reduction in value takes into account the mileage, the condition of the vehicle, as well as the market sentiments on the value of that particular model. This means that the owner of a new care stands to lose money every year as his car depreciates. Lessees, on the other hand, do not have this disadvantage. The way the lease agreements work is that the lessees pay only for the difference between the residue value of the car and its sale price. While leasing also means that you have to give the vehicle back at the end of the agreed period, this is only an issue if you care about ownership. Many just put aside a monthly budget for their vehicles and then have the freedom to drive what they want.
More Car for Less Money
One of the reasons why people choose leases is that they enable them to get vehicles that would ordinarily be out of their price range. An individual may drive a high-end car and make the same or even lower monthly payments as a person who bought a lower end car. For instance, the monthly payments for a leased BMW are almost the same as those for purchased Camry. While the person who chooses to buy the Camry will eventually end up owning it, the chances are that he would also rather be driving the BMW. Therefore, leasing is an option for those who want to drive expensive vehicles but do not want to incur the significant cost burden of purchasing them outright.
Lower Repair Costs
Buying a car means taking full responsibility for the vehicle. The owner will have to cover the repair costs occasioned by the wear and tear of the vehicle. This is not the case with leases. The leased vehicles are still usually covered by the warranty of the manufacturer. This is done so that the manufacturers who have to take ownership of the vehicle after the lease period do not have to deal with shoddy repair work done by amateurs. The lessee gets to enjoy top-notch repair services offered by none other than the manufacturer of the vehicle. Such a customer will only have to worry about the fuel cost in addition to the monthly payments. On the other hand, owners have to determine where to get their repairs. This might bring about added costs if they consult new or unprofessional service personnel.
Leasing is the best way to go about getting a new car. The logic works in the same way that people rent houses. Ordinarily, individuals who rent do so because they would not have the capability to purchase homes in the neighbourhood. However, they want to access the amenities that the area provides. In the same way, a person in Florida can choose to enjoy the benefits of a new car without having to shell out the purchase price. By leasing, such an individual can experience a new car regularly and at considerably lower costs than his counterparts who choose to buy vehicles.