How different is car leasing from car buying? First things first, a car lease would allow you to rent a car and not own it. In a car lease, you return the car after the term ends. When you buy a car, you own it as soon as it gets fully paid.
Your monthly payments for the car lease would include payment for the depreciating value of the car as well as the interests, surcharges, taxes, and fees while for car buying you would have to pay for the full purchase price of the car.
Another advantage that car leasing has against car buying is that in case you want to return the vehicle, you can easily surrender the car and walk away. In car buying, you would have to trade in or sell the car when you want a different vehicle.
Most car owners would prefer to have the latest models and other innovations and amenities for cars. Here is where car leasing would play a big advantage since it would allow you to trade in your old Volvo for the latest C30 after two or three years, depending on the agreement you have.
However, to compare the two methods of owning a car, we would have to be impartial. What bothers most people about leasing is that it’s almost next to impossible to find a good deal for a lease. Some leases would offer you a low amount, not disclosing a lot of hidden charges. So what to do? Do research and don’t be in a hurry to choose. That’s the only way to ensure the best deal whether it’s car buying or car leasing.
www.automotive.com
http://www.automotive.com/auto-loans/36/loan-tips/car-leasing-vs-car-buying.html
http://www.car-leasing-help.com/
http://www.neighborhoodlaw.org/page/78&cat_id=81
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