Publish Date - December 31, 2018
Author: Greg Thibodeau
Auto Financing Vs Leasing
To Finance or to Lease . . . That is the Question
Are you caught up in the auto financing vs leasing dilemma? Deciding between the choice of leasing a new vehicle or buying it is one of the most common problems people face when they want a new vehicle. The choice is never easy and each decision has advantages and disadvantages. myAutoloan.com can help you make the right choice. While there are many factors you should consider before you make a choice between financing or leasing an auto, the single most important factor is the length of time you plan to keep the vehicle
Leasing: A Short Term Plan
If you are planning to keep the vehicle with you for a short period of time, then the monthly cost of auto leasing is definitely less than that of auto financing. The medium-term monthly cost of auto financing vs leasing is almost the same. The long-term monthly cost of auto financing vs leasing is always lower. This is assuming that the buyer keeps the vehicle after the loan has been paid off.
Financing: A long term Plan
After analyzing the advantages of auto financing vs leasing you realize many things. When you buy a car, you own it after the loan has been paid off. There are no restrictions on mileage, so you can drive it as much as you want. There are no excess payments for additional wear and tear even though this may affect the resale value of the car. Most importantly, you can change the interior or exterior of the car as you wish. That can include anything from pin-stripping to custom rims. Use our customized auto loan calculator today to make an intelligent choice between financing and leasing.
Financing Vs. Leasing: Low Payments
The biggest advantage of leasing is that the monthly payments are much smaller than in auto financing. You are free from the risk on the resale value of the car you lease and at the end of the lease period you can go in buy a brand new car again without getting stuck with the same old car and, it's increasing maintenance costs. But, there are some things you should be aware of.
Disadvantages of Leasing:
You need to be sure of the period during which you are leasing because early termination charges can be high. There is also a mileage restriction on leasing, so you can't drive as much as you want. Just make sure you understand what the limitations are before you proceed. There are additional charges for excessive wear and tear. That is a problem you are not likely to face if you take proper care of your vehicle. The biggest advantage of leasing is the low monthly payments that allow you to put your savings in other productive investments.
Auto Financing vs Leasing Options
Auto financing vs leasing options are a common problem people face when getting a car. Leases and finance loans are two different financial tools you can use to purchase a new or used car. It is difficult to say which one is better because you need to look at your own preferences and individual needs. Your situation will determine the auto financing vs leasing choices. We can help you make a well-informed decision based upon your auto financing vs. leasing needs. Contact us today for the best deals in auto financing options and obtain fast, free, no obligation offers from respected online lenders. We think you will be very pleased with how easy and fast you can find a competitive auto financing deal.