Auto lease is like renting a house where you don’t completely own it but you live in it. While in auto purchase you own it. It depends on one’s financial situation and life style whether he should purchase a car or lease it. Car purchasing is a big decision and people consider options for it. Because neither full purchase nor lease is a 100% better option every time. Both of these have their own pros and cons.
The option of leasing a car can be considered a better option if one likes changing his automobile every three or four years or when you have to keep a high status according to the changing new versions of vehicles. In this way, you can enjoy the latest version of a car without having a direct financial burden on you by purchasing it full. Leasing gives you a financial relief. Even the repair costs are low because there are usually warranties on the vehicles. So you don’t have to spend much when the vehicle goes through any damage. The tension of selling and trading used cars is liberated. When a vehicle is leased the monthly payments are lowered. You don’t have to pay a bulk of money all at once.
Keeping the leasing pros at a side and considering its cons we get to know that you need to have a stable life style for leasing a car. If you lose your job or get a financial burden due to medical expenses or other stuff your lease payments gets disturbed. And that becomes an issue at the time of financial crises. Furthermore, you have to take a great care of the leased vehicle. Because you don’t own it complete. You can’t drive more than a specific number of miles mentioned by the company. You can’t exceed the limit and if you do so you have to pay extra for it. Additionally, it gets difficult for you to get out of the car lease contracts. While leasing a car, the procedure can be tiresome and complicated. You have to look through the agitating procedures and spend a lot of time understanding the company policies. If you procrastinate on the normal maintenance of the vehicle, this can also cost you from your own budget. In the long run, you get to pay more for the vehicle than its price which was to be paid on full purchase.
If car leasing gives a problem, a full purchase gets a better option automatically. This gives you the advantage of owing the vehicle fully. You can modify or customize your vehicle as you please, insert buffers, speakers, vehicle television, GPS system etc. You get more flexibility dealing with your vehicle. You can trade it as you like without having the tensions of the company insurances or policies on it. You can trade in for this car for the next car you buy because you totally own it. You can drive it as much as you like and there is no limit to it or extra charges for it unlike the leased car. Your already paid off vehicle does not add up to your burden during any kind of financial crises. You pay less for a purchased car on total than a leased car which enhances the expenses depending on different conditions. You can drive your purchased vehicle for as many years as you like to spread out the cost. The pros of a purchased vehicle give one a mental relief when you know the ownership is only yours.
The cons of purchasing a car are definitely there. You have to give a bigger down payment for the vehicle. So it can be a burden at the start, not if you have a stable life style. Cars have warranties for a specific period of time. But when the warranty time runs out all the burden of the wear and tear costs are on you completely. You have to maintain the car all by yourself. Although there are no deadlines to get it properly maintained. But you have to take care of it on your own. While selling or trading in for your used car you can face some issues.
The crux of the above mentioned data is that while thinking of getting a new car one has to go through the pros and cons of both auto leasing and purchasing. Our company UBDriving provides both the services and keeping in regard our customer satisfaction in Canada. So we motivate you to get the best product according to your life style.