When buying a car, many are faced with the question: buy or lease? A one hundred percent valid answer cannot be given, as it depends on the individual case. Buying is worthwhile for some, leasing for others.
Advantages that speak for a car leasing
Anyone who does not have enough capital to constantly buy a new car is well advised to opt for a leasing concept. Car leasing is a good choice, especially for drivers who regularly want to drive the latest car technology and new cars. Thanks to the flexible leasing contracts, you can buy a new car annually or at other intervals at companies like GoLeasy Auto Leasing lease without major financial outlay. You neither need to pay a large down payment nor take out a loan for the acquisition costs. This makes it possible to drive vehicles that would normally exceed your own budget if you bought them. Leasing vehicles are particularly advantageous for entrepreneurs and freelancers who can deduct leasing vehicles from tax.
Other advantages of car leasing
Depending on the leasing contract, additional costs such as vehicle insurance and maintenance can be included in the contract. In this way you will be spared further unpleasant costs. You don’t need to worry about normal wear and tear either. If you use the leasing vehicle within the negotiated number of kilometers, there are no additional costs for the return. The lessee is also not responsible for any loss in value caused by the diesel issue. However, you should read carefully the advantages and disadvantages of kilometer or residual value leasing.
Advantages and disadvantages of buying a car
A clear advantage that speaks in favor of buying a car is the ownership relationship. You only become the owner of the vehicle when you buy a car. You can do what you want with your car practically at any time. You also decide for yourself which type of car insurance you prefer. This can be either a partially comprehensive insurance with excess or a fully comprehensive insurance as you wish.
If you had to take out a loan to purchase, the monthly expenses are reduced after the loan has been settled. If you can pay for the car you want in full in cash, you can, however, expect substantial discounts in some cases.
An important disadvantage of buying a car is that you will be responsible for all repair costs and insurance. The resale value of some vehicles can also drop significantly.
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