Getting a new car is a big decision. Your car will be your mode of transportation. If you drive to and from work or school, it will be a place where you spend a lot of time. You want your car to be something you feel comfortable in. It needs to be something you can rely on in getting you from place to place. Ideally, it would be nice if it was a car you enjoyed driving.
When you approach the decision to get a new car you will be faced with the choice of whether to lease or to buy. Each has its own benefits to recommend it to the driver. When you buy are car your payments will contribute towards ownership. This means that at the end of the period, when you have completed all of your payments, you will own your car free and clear. You can keep it as long as you want or as long as it lasts. Once it is paid off you will have no more monthly payment obligations. In addition, it is yours to keep. So if you decide to sell it, the proceeds are yours to keep. If you choose to you can use them to buy a new car.
Furthermore, many car companies are using enticing sales methods to encourage purchasing a car. Low interest rates can be the car dealership’s way of promoting purchase agreements rather than lease agreements. It appears to be working since most prospective buyers choose to purchase rather than lease. Leases only account for 20 percent of vehicle sales. Some people are prejudice against leases because they view them as a waste of money. Unlike in a purchase agreement, the money spent on a lease does not contribute to ownership.
However, leases have their own benefits. For one thing the monthly payment will be more affordable. It won’t contribute to ownership, but you will spend less money. This can be beneficial if you don’t care about ultimately owning the car. Because the payments are cheaper leases also allow people to drive cars they might otherwise not be able to afford. With a lease you do not have to take on the full cost of the vehicle. If you can make the monthly payments you can drive it without committing to pay the full price.
This is especially good for people who want to drive luxury vehicles or sports cars. The rate of leasing is much higher for these vehicles, around 50 percent. Many people want to drive these types of cars to enjoy the style and luxury they provide. With a lease you can enjoy these features even if the total cost of the car is out of your price range. Cars such as Ferraris, Porsches and Maseratis all offer lease options. Whatever you ultimately decide, leasing is at least an option to consider. It can be beneficial financially and an easy way to drive the car you want.