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Buying vs. Leasing – which is best for you?
Today buying a car can lead to many questions and confusion, especially with how different the buying and leasing experience can be. Typically, if you were to purchase a new car than you would make a down payment and finance the remaining cost. At the end of the term you would than own that car. Leasing on the other hand is much like renting, with your payment going towards the car’s depreciation value. If the lease includes a purchase option, you have the ability to buy the car at the end of the defined lease period. But which option is better? That depends on the person’s needs and specific situation. Here are some advantages and disadvantages to both:
With leasing equity is never gained on the car. Even if the car was to be bought at the end of the contract, it would cost more than if it had just been bought outright in the first place.
Leases are also restrictive. If the yearly mileage limit is exceeded there is fine. The car also must be taken excellent car of, any nicks or dings, cost a wear and tear fee. Also it is difficult to get out of a lease early if driving needs or financial circumstances change.
In the short-term leasing can be advantageous. The monthly payments on a leased car are usually a lot smaller than that of a loan, even if opting for a luxury model. The down payment usually works out to be less as well. A typical lease is about three years so most repairs are covered by factory warranty. Sales tax is cheaper and you only pay it on the financed portion. There is also the benefit of being able to drive a new car every few years, and the benefit of never having to hassle with selling it.
If leasing, be sure to check out some of the great Volkswagen Tucson deals such as: a 36-month lease on a 2012 Volkswagen Jetta Sedan S for only $137/month, or a 36-month lease on a 2012 Volkswagen Beetle 2.5L for only $179/month, or finally a 36-month lease on a 2012 Volkswagen Tiguan S for $212/month.
Down payments can cost a substantial amount of money. Monthly payments are usually much higher than that of a leased car and once your warranty expires, maintenance costs can be sizeable as well. Trading or selling is much more of a process and as an overall investment new cars depreciate in value, essentially costing the buyer money.
When buying a car the car becomes a possession. It is now free to be customized and driven however anyone would like, penalty-free. Rather than having infinite payments, there is a finish line, and eventually the car will be paid off. If chosen to, the car can be sold at any time and there is no contract tying the consumer to the car.
If you are considering buying, some great new VW Tucson deals include: 2012 Volkswagen Jetta for only $16,749, or a 2012 Volkswagen GLI Autobahn for $26,799, or finally a 2012 Volkswagen Beetle 2.5L for only $19,983.