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If you are planning to acquire a new car in the coming year, it is important to through the available options and come to the best decision that fits your seasons. There are two main options of acquiring a new car that you would like to consider; lease or buy. As the old saying goes, buy appreciating assets and lease depreciating assets, make sure you understand the pros and cons of either of the two options.
Before arriving at the decision on whether you will be buying your next car or leasing it, the first step is to understand your need and comfort requirements. This way you will arrive at the best make and model in the market. The second thing to consider is whether to buy or to lease the car. Buying is basically the traditional way of acquiring new assets. You pay in full for the item and then you own the item 100%. Leasing on the other hand is a modern way of owning items on contractual basis. In leasing a car, you will enter into a contract with a dealer where you are allow to own a car and pay monthly fees for a contract period that mostly range between 2 and 3 years.
Whereas the buying decision gives you the freedom to operate your car as you will, leasing option comes with certain limitations that may restrict your driving experience. Most leasing deals come with a mileage limit that is often between 10,000 and 15,000 miles a year. If you love long fun drives, then you should rethink your idea of car ownership because you will end up paying more at the end of the contract. However, if you don’t think the 10k or 15k miles limit is not limiting to you then you can proceed and get the best leasing deal ever such as the Brooklyn’s VIP Car Lease.
Buying or leasing decision should afford you the liberty to enjoy your your car in the best way possible.