5 ways to decide whether to buy a car on lease or on credit

Most often this is not your first car – and based on previous experience, you understand what is the best for you «ownership cycle». In general, there are options, but they are not the most pleasant. V car loan monthly payments are quite high. And when buying a car in Leasing All these risks assume leasing company. And here and there a certain package of documents will be required from you (usually – passport and driver’s license) and make a decision on the application within 15 minutes.

In conclusion, we suggest that you spend «self-diagnosis» – and decide if leasing or car loan is right for you. Placement of an ad and a photo, round-the-clock calls that I will pursue after the sale of a car, endless displays, repetition of the same text and requests for a discount – all this takes a huge amount of time, annoys, interferes with work and deprives of days off. After 2-3 years, you simply return the old car to the leasing company and change to a new one (see. fact no.

5 «After the end of the lease term, you can change to a new car with the same monthly payments» from our previous article). And here we propose to evaluate now how much free time you have. Agree, you have never seen such a comparison. If you buy a domestic car (which, according to statistics, you will use for more than 5 years), then it is best for you car loan.

So we considered all those factors that, in practice, affect the way in which to buy a car. Car loan good if you buy a car forever or for a long time – that is, you plan to use it for about 4-5 years. But when buying a foreign car, especially a premium class (Mercedes, BMW, Audi, Volkswagen, etc.), which, according to statistics, you will change to a new one in 2.5-3 years, it is more profitable to use leasing.

In addition, you can reduce the size of payments by taking out a longer-term loan (for example, for 5 years). The answer to this question will best demonstrate whether you are ready to sell your car yourself and whether it will give you pleasure.

5 ways to decide whether to buy a car on lease or on credit


p>In our previous article «5 unknown facts about leasing for individuals» we tried to give a general idea of ​​car leasing. Otherwise, if you are a busy person or have interesting hobbies outside of the antique trade – choose leasing for individuals. You do not need to spend time and nerves at this time, to take risks, trying to try on the role of a fortuneteller or a great expert in cars (taking into account how even professionals are mistaken in forecasts at the cost of assets in many years of perspective).

Decide. If it’s not enough now – it is strange to expect that after 3 years (4, 5, 6, etc.d. years) it will suddenly become a lot. Or you can moderate your appetite and buy a car of a lower class or another brand. It’s a completely different matter – the time you have to spend selling your old car when, after paying off a loan or lease payments, you decide to replace it with a new one.

If you have enough time for this process, then car loan – This is your choice. The time you spend on buying a car with a loan and with a lease is usually the same. On this – often painful – the question must be answered as honestly as possible in order to realistically assess whether you can afford exactly the car you want. Leasing for individuals optimal for the planned period of car ownership from 1 to 3 years, as it makes it possible to use the car with monthly payments, which will be 2-3 times less than with a car loan for the same period.

This paragraph will help you answer the previous question – about the planned period of ownership. Also, at the same time, you take into account the factors of growth of https://cars45.com/listing/honda/civic/2016 your income (and the purchase of a more expensive car), the appearance of your children (with the need for a more spacious car), etc.d. And at the end of the lease, you can easily replace the car with a new one. Then, subject to the subsequent successful (!) resale (cm. point 5 «Do you like gambling»), a car loan will be more profitable than leasing. The statistics are relentless and incorruptible: the brands of some models change faster than others.

However, at the same time, the total cost of the loan agreement for the entire period will increase significantly. If you are willing to pay them for the desired car – no problem. V leasing monthly payments are 2-3 times less, so you can definitely buy the car you like (or even a class of higher / improved equipment) – or use the freed up money for personal purposes.

Usually you know and consciously plan for how long the car will be bought.

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