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    Leasing vs. Buying A Car: Drive Smart

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    Diamond Hubbard
    Leasing a car involves making monthly payments but never owning the vehicle, which must be returned after a set time period. While leasing guarantees a new car every few years with included maintenance, it also has strict mileage limits and charges for any damage or modifications. Buying a car allows owning and customizing the vehicle after paying it off but requires taking on full maintenance costs. The best option depends on individual financial circumstances and preferences regarding long-term ownership versus constant access to new models. Leasing requires better credit due to its shorter-term nature compared to buying.

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    Leasing vs. Buying A Car: Drive Smart

    Uploaded by

    Diamond Hubbard
    92 views1 page
    Leasing a car involves making monthly payments but never owning the vehicle, which must be returned after a set time period. While leasing guarantees a new car every few years with included maintenance, it also has strict mileage limits and charges for any damage or modifications. Buying a car allows owning and customizing the vehicle after paying it off but requires taking on full maintenance costs. The best option depends on individual financial circumstances and preferences regarding long-term ownership versus constant access to new models. Leasing requires better credit due to its shorter-term nature compared to buying.

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    Drive Smart

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    Drive Smart

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    Leasing a car involves making monthly payments but never owning the vehicle, which must be returned after a set time period. While leasing guarantees a new car every few years with included maintenance, it also has strict mileage limits and charges for any damage or modifications. Buying a car allows owning and customizing the vehicle after paying it off but requires taking on full maintenance costs. The best option depends on individual financial circumstances and preferences regarding long-term ownership versus constant access to new models. Leasing requires better credit due to its shorter-term nature compared to buying.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    92 views1 page

    Leasing vs. Buying A Car: Drive Smart

    Uploaded by

    Diamond Hubbard
    Leasing a car involves making monthly payments but never owning the vehicle, which must be returned after a set time period. While leasing guarantees a new car every few years with included maintenance, it also has strict mileage limits and charges for any damage or modifications. Buying a car allows owning and customizing the vehicle after paying it off but requires taking on full maintenance costs. The best option depends on individual financial circumstances and preferences regarding long-term ownership versus constant access to new models. Leasing requires better credit due to its shorter-term nature compared to buying.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 1

    Drive Smart

    Leasing vs. Buying a car

    Should I buy a car or just lease it? Well, what is leasing? Leasing a car is paying on a car you
    probably do not plan on owning. You still will put money down on the car to help get your
    monthly bill lower, you still need good credit to lease a car if not better credit if you were to buy
    a car. Leasing a car means you will pay a monthly bill for a car, then turn it in and get another
    car every so often. You will never own a car and will forever be paying a monthly bill. Buying a
    car is the same process but you can pay off the car in time, and the car will be yours that you will
    own.

    Now leasing a car comes with a stipulation, like a millage, damages, additional accessories
    added to the car are not allowed. So, if you like to add speakers, rims, and tin to your car leasing
    is not the right option. Also, you have to stay under a certain millage of you will be charged a
    dollar amount of however many miles you went over. You also will be charged for any damages
    to the car. But there are pros to leasing a car, you get a newer car every so often and most people
    get free maintenance on their leased car. Who wouldn’t want a new car every few years at the
    same monthly payment?

    Buying a car, of course, you will eventually own the car and will have any monthly payments for
    the car after paying it off. But when buying a car, it is not easier to get free maintenance on the
    car it is sometimes extra in your monthly payment. The pro of buying a car is you can feel free to
    do anything to the car you would like. You can paint the car, add speakers, rims, and even tint
    because it’s your car.

    It depends on your financial situation to see what’s best for you. If your comfortable paying a
    monthly bill every month and you don’t drive a lot and like having the newest car leasing might
    be for you. But if you don’t like monthly bills and prefer your car to be yours then buying your
    car is the best choice. Plus leasing a car, you need better credit vs. buying a car. You can save up
    money to put down on a car so that your monthly payments are low. Leasing you absolutely need
    good credit.

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