If you’re shopping for your next vehicle, you’re probably deciding whether you want to buy or lease. Reasons for buying a new car include lower finance rates and the comfort of being the first owner of the vehicle. New car buyers tend to have more freedom when choosing luxury and convenience features. For example, they can upgrade from cloth to leather seating and even add a premium entertainment system, while still keeping monthly costs manageable. After completing payments on the vehicle, new car buyers will have something of value that they can either sell for a profit or keep for years to come. Likewise, leasing a vehicle offers substantial benefits. One of the most attractive benefits is being able to get into a more luxurious vehicle for a lower price. Lessees need not worry about expensive repairs or costly depreciation associated with new car purchases. Once you have kept the car in good condition and obeyed the terms of the lease, you can simply hand over the keys and walk away at the end of your lease. Many lease contracts offer a buyout option allowing you to pay cash for the vehicle or continue making payments until you own it if you decide you do in fact want to keep it. Self-employed individuals can even write off their lease payments as a business expense if it is used for business purposes.
Posted on: Tue, 01 Jul 2014 13:20:20 +0000
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