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Financial Planning

Leasing vs. buying a car

by Allyjay

Leasing vs Buying, I would definitely say leasing. If you go to buy a new car, the chances are you are going to have to get a loan to pay for it. Taking this into account, you will be paying for this new car for maybe 3-4 years, at the end of this time, the car is yours, there are no more payments for it, but it has devalued, it will begin to require attention, hence more money to find. I at present lease my car, included in this lease is my servicing, any parts even down to a new windscreen wiper, any problems whatsoever I take it back to the dealer and it is fixed at no cost to me, during any time of it being fixed I am supplied with another car to use. Also included is breakdown and recovery. My lease is for 3 years, at the end of this time I choose another brand new car and so it continues. I probably pay the same amount of money as if I had taken out a loan, but I have the piece of mind that everything is completely covered and there is no more layout for me. I also do not get faced with the fact of my car devaluing and losing a great deal of money from what I paid for it. If money is no object then I suppose you would buy a car, but when you have a family and every penny is taken for things, leasing is the saftest and least worrying option for you to take.

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