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Financial Planning

Leasing vs. buying a car

Most people would rather buy than lease a car. It really depends upon ones circumstances. But look at the big picture and see what you would rather do without regard to your circumstances. Having a car for a regular guy is not so much for luxury but for good reasons such as having a transport in doing the business of earning a living and going places where you need or want to be. Buying and leasing are options. You can choose either one of them. Keep In mind that cost involves not only money but time.

What you are looking for in a car is one that can serve you most efficiently at the least cost possible without sacrificing safety. An old car may fit that criteria if you want to go into the hassle of having a mechanic check the car of your choice and find out how much repair is needed if any in order to have the old car in tip top condition and without any breakdown under reasonable proper maintenance. There is no real guarantee for the check and repair of an old car. It is a risk you just have to take.

You may not be able to afford a new car that you want but there are new cars that are affordable depending upon ones budget. The convenience of being able to get the car right away after not too many paper works are completed is a positive thing. Since the car is new a breakdown would be far from happening and you are protected by warranty.

Leasing a car more often than not gives the dealer more advantage than you. He makes the money during the period of lease and makes more money after selling the car after the lease has been terminated. There is no mercy when you terminate the contract prematurely. You are a slave to the schedule of periodic maintenance of the leased car because if you do not comply with their requirements a penalty is right there in your face.

There is more time and freedom in having your own car than using a car that is not your own. No cost can equal the time and freedom that you get in driving your own car.

Learn more about this author, D. O'Larde.
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