So you’re in the market for a new car and you’re not sure whether to buy or lease? Here are three things to consider when making your decision.
- Price. Leasing can provide the lowest monthly payment. However, buying a car enables you to recoup your money when you sell it.
- Use. What are you using the car for? Most leases come with mileage restrictions. So if road trips are in your future, buying might make more sense.
- Status. How important is it for you to upgrade? While buying locks you into a vehicle for a longer period, leasing allows you to upgrade more frequently.
Getting a new car is a big decision and everyone’s situation is unique. That said: Buying or leasing, there is no denying that new car feel!