The buzzword of today is that leasing is a better option as against going in for a purchase. This holds true for real estate as well as high value products like cars. However, before signing a lease agreement, there are a few things to keep in mind and be aware of to get the best deals available.
When we talk to our friends or colleagues, we learn from mistakes they committed. Also some might have done an impulse shopping of a car, and would be struggling to meet the payments. They would have thought it would be easy, but it would not be so. Also the price of the cars these days is quite steep, and the maintenance is another cost that will eat you up. Therefore, it’s wiser to go in for a lease agreement and save money and keep away from tension. Have a talk with the leasing company on what are their terms and conditions. How much do they require up front and what are the rates levied on the lease.
A leasing agreement lets you own a car for the period you have signed it for. This gives you all the rights of an owner, which means, you can use the car wherever and whenever you wish to. Since you pay for that value of the car you use, there are no worries about making future payments and so on. Plus, you get to choose the duration of lease, which gives the advantage of weighing the pros and cons and then taking a decision.
Doing away with headaches related to Ownership
When one buys a car, they need to go through a lot of formalities, right from paying for the car, registration, and looking into details such as insurance and warranty. Whereas in case of leasing, they are hassle free, since the leasing company takes care of all these for them. Another major advantage of leasing a vehicle is that one need not worry about long term maintenance, and paying a hefty down payment.
And if the person has a job that might transfer them to a different town every couple of years, they don’t have to worry about transporting their car around. If it is a leased car, they can finish the contract, and move on to the next town and a fresh new lease agreement.
Weigh your options
Be it purchase or a lease; make sure to take time to think it through. This is the only way the decision can be made to your advantage. If you feel leasing will work out better, since you have financial commitments for a couple of years, you should just go with that. At times people opt for leasing since it gives them as much choice as buying a car, they can choose the model, colour and the engine make of the car here as well. So at the end of the day, they do get to enjoy and drive the car of their dreams.