Many topics can cause heated debates in our modern society. There are many topics that can spark heated debate, including politics, animal rights, and foreign policy. One subject that leaves us dreading is the decision of whether to buy or lease a car.
A recent survey found that approximately 23.2 percent (23,2%) of the automobile market is leased. Leasing is a recent trend, so this wide variation doesn’t necessarily mean one option is better.
“Buying versus leasing is one of those questions we get from consumers on a regular basis,”Patrick Olsen, Cars.com’s managing editor, said: “For most consumers, it comes down to some very basic lifestyle questions.”
When you are considering buying your next vehicle, how do you know which path is best? If you’re thinking of leasing, here are some things you need to consider from Cars.com:
* Beyond lower payments. Leases are not only affordable. Leases also offer purchasing flexibility. Olsen calls it “the three-year test drive.”
* A worry-free drive. Leasing drivers don’t have the worry of seeing their car’s value drop each year, or dealing with expensive repairs. The lease ends and the driver can just turn in the car to end the term.
* An ongoing monthly payment. Leasing is convenient but you will still have to make a monthly payment. However, if you decide to buy, the loan will be due at some point.
* The mileage watch. Many leases limit how many miles you can drive before you are charged a mileage fee. This adds up quickly. A lease may not be right for you if you drive more than 15,000 a year.
* Don’t leave a gap. GAP insurance should be considered if you lease. GAP stands to Guaranteed Auto Protection. It is the difference between what your insurance company pays you and what you owe when the car becomes history. This can often be in the tens of thousands. This insurance covers the balance of your lease if the car is stolen or damaged.
You can find out more about leasing an automobile versus purchasing one at www.leasingautomotives.com www.cars.com.
