4 Questions You Should Ask To Determine If Leasing A Car Is Right For You

Posted on: 20 September 2016

Many people wonder if they should buy or lease a car. There are many questions to consider before you purchase a car. Here are some questions that you should ask yourself to determine if purchasing or leasing a car is the right decision for you.

Can You Afford To Make Payments?

One of the first questions you should ask yourself is about money. When you lease a car you will make payments to the dealer each month. It is much harder to buy out a lease, so you should plan on making payments until the lease is completed. When you purchase a car, you always have the option to pay it off early or to just sell it at will. A lease is not that simple. This is why you should ask yourself if you want to make payments each month, or if you were hoping to pay outright. This will help you decide what is best for you.

Do You Want The Newest Model?

If you want the newest model of the car, a lease may be the best option. With a lease you can get the car that you want for smaller payments that what you would pay if you bought it outright. Dealers only lease brand new, or near new cars. This means that, if you want to buy a brand new car, you should consider leasing so you can get the newest model and have the dealer take care of all of the maintenance.

Are You Planning On Switching Out In A Couple Of Years?

If you only want this car for a couple years and are planning on switching cars again, then you should consider leasing. Usually a lease only goes for 3-5 years, so you can get a brand new car, and then trade it in when you are done with it. This allows you to get new cars every couple of years and not have to worry about buying or selling them.

Are Your Driving This Car A Lot?

Lastly, your lease will be limited in how much you can drive it. You will only be able to put a certain amount of miles on the car. This means that if you are planning on using the car for commuting long distances, a lease may not be right for you.

By asking yourself these questions you can decide if a lease is the right decision for you. For more information about the differences between leasing and buying, talk to a dealer like Star Auto Mall LLC.