Which is the better option, buying or car leasing?

In Driving in the UK by Jonathan Humphrey

You have decided that the time has come to purchase a new vehicle.

You know that several different options exist, but you are not sure which one to choose. If you are deciding between leasing and buying a car, what is the better choice for you?

Your credit scores

Before you can buy or lease a vehicle, you need to get approved. The dealership or lender will look at your credit scores, and this is a major part of the approval process. Generally, leases require lower credit scores for approval than do finances. As a result, you may have an easier time getting approved for a lease and receiving a better deal on a vehicle of your choosing.

Your life with the car

In order to afford a financed vehicle, many people have to enter into rather long agreements. By the time the agreement is over, the car might be quite old. Leases can last for various amounts of time, but 36 months is a pretty standard agreement term. Once these three years are over, you can lease another beautiful car that is new and fully-functioning.

Affording the vehicle

Buying a car definitely has its advantages because the vehicle is yours to do with as you please. A lease is, in some ways, like a rental. However, due to this factor, the costs are usually much lower. You could end up paying half the price of a finance option for a lease, so you should absolutely take your budget into consideration when making the final decision.

The cars that are available to you

When you buy or finance a car, that vehicle is yours, and this fact carries a lot of weight for some people. Still though, if you want to take out a lease, you will probably have more car options available to you. You will likely be able to get approved for newer or more desirable cars since the requirements as not as high for a lease. Prestigious options such as Mercedes lease click here are available. This means that you’ll really be driving around in style for the next few years or so.

The best of both worlds

Perhaps you are still really torn, and you do not know what to do. Leasing with the option to buy is an excellent idea that can work really well for you. At the end of the lease agreement, you will have the option to purchase the vehicle. However, for now, you can have the benefit of making smaller payments. 

So many factors go into a lease agreement, and you definitely want to speak with the dealership about all of the stipulations that will govern yours. Ultimately, you will have to decide what makes the most sense for you. Whichever one you decide to go for make sure you go to a trusted dealership such as Lease Cars Direct. That way you are more likely to get reliable and quality service and advice.

This is a sponsored post by Lease Cars Direct