Why You Should Buy Rather Than Lease A Car

If you are thinking of buying a new car, you may be wondering why you should buy rather than lease. The first reason is cost: leasing is much more expensive than buying a vehicle outright. Even though the monthly payments are lower, there is a high chance that the vehicle will depreciate. Not to mention that you will have to pay for maintenance and repairs on the car. Additionally, lease agreements often have complicated fine print. If you are looking for simplicity, then buying is the way to go.

Another advantage of buying a car is the fact that it is more affordable. Many people find that they can make monthly payments on a lease that is less than their monthly mortgage. Plus, they won’t have to deal with hidden fees or a huge down payment. Leasing a car is more convenient, flexible, and economical for the long term. Before you lease, you should use an auto loan calculator to see what you can afford.

When comparing the costs of buying a car and leasing a car, consider the depreciation of the car. When you lease, the monthly payment will equal the depreciation amount. In this case, you will be paying $375 a month, whereas with a purchase, you will pay only $375 per month. Eventually, the monthly payments will be close to the total purchase price.