Buy for $16 000
Buying a car might seem like the best — or even the only — option for you if you are looking for a car to drive. Even though it might have been your only experience so far, however, you should know that it is most certainly not your only option. Another option that you can look into is leasing, which you might just find will work out incredibly well for you.
There are many reasons why people choose to lease vehicles. One of the main motivations for a lot of people is the fact that it can be very financially beneficial, particularly for someone who does not have a big budget. If you have ever found yourself held down by an expensive car payment, you know just how much of an effect it can have on your budget. It might seem like it’s worth it so that you have a decent car to drive, but there is a better way for many people.
If you opt to lease instead, you can actually keep your monthly payments to a minimum. This can be done even if you choose to drive a higher-end vehicle, even though the value of the car will obviously have an effect on how much you have to pay in your monthly lease payments. For someone who is trying to stick to a tight budget, it can actually be the only way that it’s possible to drive a decent car without spending more than you afford each month. For someone who has a little more money to spend, it can make it possible to drive something that is a lot nicer than what you might be able to drive otherwise, or it can leave you with extra money in your budget for other things.
In fact, you do not actually have to wait until your monthly payments start becoming due before you can enjoy the cost benefits of leasing a car. On the day that you walk into the dealership to pick out the car that you want to lease and to sign the leasing contract, you are sure to notice the difference. This is because you will not have to hand over thousands of dollars beforehand so that you can get approved by a lender. Instead, the amount that you have to pay in the beginning will be limited to a few affordable things like the security deposit on the vehicle. This can result in an instant savings.
The financial benefits of not buying a car and leasing instead do not end there, however. If you have ever had to pay for major repairs to a car that you have owned in the past, you know just how costly they can be. This might be something that you want to avoid, and with leasing, you should be able to. This is because the car will be a new car, so there should be minimal repair issues with it. If these issues do happen to arise, however, you should not be the one who will have to pull out your checkbook. Instead, you should be able to rely on the warranty coverage through the vehicle’s manufacturer to handle things for you.
Lastly, there are more benefits to be had from leasing than just those that are related to money. If you get bored easily and like to switch things up a lot, leasing can allow you to do just that without all of the hassle that goes along with selling and buying cars. It can also minimize your vehicle-related stress since you do not have to be the one who worries about all of the things that go along with owning your own vehicle. Instead, you can just make your monthly lease payments and enjoy driving the car each day without really having to worry about anything else.
As you can see, buying a car is most certainly not your only option for driving one. If you would like to be able to drive something that is really nice but do not want to have to worry about the costs and stresses that can go along with actually owning a vehicle, then you may want to start looking into your leasing options.