Buying or leasing is a dilemma that haunts many, because there is no simple answer to this problem. For some people, leasing could be a better option, while others might prefer to save and buy a car rather than deal with lease rates. In such cases, you have to weigh the benefits and drawbacks of both options, and then decide. Tips to Purchase or Lease a car from Alfa Romeo USA of Patchogue.
Leasing a Car
It costs you way less than what you would need to cough up, if you actually bought a new or used car.
You get to pick out additional features, while other technology is available too.
If you have good bargaining skills, you could negotiate on the down payment, which allows more flexibility than buying a car.
Leases are provided for certain time frames, with the maximum going up to 3 years. Your vehicle will be covered by a warranty till the lease exists.
Once the lease expires, just turn in the car and your job is done! You don’t need to bother about selling or getting a good price for the trade-in.
When down payments are low, monthly fees are higher.
Any damage to the vehicle during the validity of the lease will have to be fixed by you, regardless of how much it costs.
Restricted mileage – you need to shell out money if you cross the limit.
Although you can make minor alterations, major modifications are not allowed – it is specified clearly in the contract.
Buying a Car
The process is simple – you are building equity as you gradually pay off the car loan. After you have cleared the entire amount, you gain full ownership.
No monthly fees required after your loan is paid off.
Go for long drives and road trips without worrying about mileage.
Get an entertainment center, spruce up the interiors, get new wheels, paint the exterior – it is your car, so you can do whatever you want.
Resale value and trade-ins are tricky and risky, but it is a chance you have to take.
Down payment is significantly higher – it is doubtful if you can purchase a car without a lucrative down payment, which is generally between 10 to 20 percent.
If you take a long time to clear the car loan, the interest also goes up quite a bit, which might cut into other expenses.
Take your time – this isn’t a decision that can be rushed!
Are you or anyone in your family looking for a new, or used car head on over to Alfa Romeo USA of Patchogue. . Not only do they have a great selection of vehicles they will make sure they help you in every way they can.