Top 3 Factors to Guide You on Whether to Buy or Lease a Car

Buying or leasing a car is a decision that one is required to make depending on various essential factors.

Duration of use: If you want to use the car for a short period of time, you should consider leasing. This is because you may not need the car after a certain period. However, one can buy a car if the use is long-term because leasing a car for a long period of time can be expensive in the long run.

Consider the amount you are willing to spend on the car. Leasing a car for has lower monthly payments than buying. However, long-term leasing is expensive in the long-run compared to taking out a loan, because once paid for, the car is at your disposal.

​Consider personal needs. You can always lease a car to figure out what your family needs. However after establishing one's needs, one can now buy a car.
Categories: Finance
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