So you need a car. The age old question of leasing verse buying has entered your mind and you're not sure which direction to take. Here are the positive and negative nuts and bolts of both...

Leasing positive:

When you lease a car you are not going to be wadded down with the general maintenance costs as you would on a car you were buying. Your car is under lease and that means besides oil changes, and gas there shouldn't be much more left for you to worry about. Also with a leased car the mileage and wear and tear you put on it will not affect you because as you know in two or three years you're turning it back into the dealer. Another positive of leasing a car is you get a new car to drive around in when you turn your old one in every two to three years and that can be excellent.

Leasing negative:

The most negative thing about leasing a car is that you make payments every month for something you do not even get to keep. You're not investing your money into anything, you're renting. If you were in-fact to fall on hard times financially you would not be able to sell your car and downgrade to something more affordable for you, you would get stuck with nothing.

Buying positive:

Buying a car can be a good investment when you're looking to establish your assets. Buying can also be another positive way to institute your credit and even improve it as long as you make your payments promptly. The dealership also has a wide variety of programs set up so you can find one that fits perfectly for you whether you want to pay it off fast or need a little more time. The best thing is when you are done paying off your car which is still covered by a warranty you keep it and can even sell it if you choose.

Buying negative:

The biggest problem that will arise when buying a car instead of leasing is that you will be responsible for general maintenance costs as well as any other costs you may incur. When you finally do pay off your car it does belong to you title and all, and you will be responsible for everything that entails.

I hope that this was beneficial for you and that you now have a better idea of what is right for you.

Learn more about this author, Kelly Anthony.
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