Is Purchasing a Car Better than Leasing?
You probably know a lot of people who lease a car and also a lot of people who own one. It’s like Pepsi and Coke, and people always have their preferred option. So are you wondering which option is best for you? At the end of the day, the choice is yours. However, the Arizona auto loans experts at drive not definitely recommend purchasing a car for multiple different reasons. Read on to find out the advantages acquired from purchasing your next car rather than leasing it.
No Mileage Limitations
When renting or leasing a vehicle, there are always contracted mileage limitations that you have to deal with and be wary about. The more miles you want to have when leasing a car make the price you pay go higher and higher. Those who lease their vehicles sometimes will find themselves constantly counting and keeping track of their monthly mileage, worrying about unwanted fees, if their commute to work will add up, or hesitant to taking that spontaneous road trip to the coast. When purchasing, you don’t have to deal with this issue.
Loan Collateral
When you purchase a car, you always will have the option to use the value of your vehicle as collateral in case you want to apply for a loan. When leasing, the dealership you’re making the car leasing payments to will repossess the vehicle, implying that none of what you paid during your lease contract will go to your equity. Drive Now’s Arizona auto loans are perfect in this situation!
No Cancellation Fees
Contract cancellation charges are another downside of leasing a vehicle. As we all know, life has its unexpected twists and turns and being tied to a vehicle lease is similar to being tied to an apartment lease. What if you get a new job and need to move? What if something happens and you need to put your lease money towards something else? What if you decide you need something bigger or smaller? Some hefty penalty charges are applied if you break a lease contract and purchasing a vehicle instead will save you the trouble when life throws something unexpected your way.
It’s no secret that purchasing a car is much better and less of a hassle than leasing one. Before you make a decision as to which choice is best for you, remember to weigh in these reasons. Interested in learning more advantages that come with purchasing your next vehicle? Are you ready to get the ball rolling and see what Drive Now has to offer? Do you want to get more information on our Arizona auto loans? Apply now using our simple online form!