The time has come and you’ve decided you need a new car. Now you ask yourself, should you buy a new car or lease a new car? You know there are different pros and cons of leasing a car, but you might not be sure what they are and how they apply to you. We have compiled a list of some of the best pros and cons to leasing a car to help you decide if that is the best option for your needs!
Here are The Pros and Cons of Leasing a Car
5 Leasing Pros
- You’ll have a warranty, so the cost of fixing repairs will be less
- You can get a new car every few years
- Lease payments are usually lower than loan payments
- Less sales tax
- You can drive a better, nicer car for less money
5 Leasing Cons
- You don't own the car
- You will acquire fees for excessive wear and tear
- You’ll have endless payments, because every few years you’ll need a new car
- You are restricted to a mileage cap, and if you go over, you’ll be required to pay more
- If you need to end the lease early, it could become costly
Making a list of pros and cons of leasing a car can help you decide which option would be best for you. There is no right or wrong decision when it comes to getting a car. Whatever suits your personal needs best is the right decision.
Whether you decide to buy a new car or lease a new car, it’s an expensive purchase. After you weigh all of the pros and cons of leasing a car, there’s still one other thing to worry about: auto insurance. Make sure you cover yourself by purchasing car insurance. Car insurance will help in the case of an accident, whether you are at fault or someone else may be.
Contact Lighthouse Insurance, we’ll make getting insured easy!