Buying or Leasing a Car: The Advantages of Each
August 07 2023, L’ami Auto Credit
You’re about to get a new car, but you’re wondering whether you should buy or lease it? L’Ami Auto Crédit makes it easy for you.
BUY OR LEASE?
There are advantages to both.
First of all, if you want to keep your car for a long time, buying may be an interesting option. Car financing will allow you to become the real owner of your vehicle at the end of the period set out in your purchase contract. You won’t be dependent on your car dealer, since you’ll be the owner. What’s more, you won’t be tied to them, and you won’t have to limit yourself to an annual kilometrage. Last but not least, you’ll be able to resell your vehicle whenever you feel like it!
However, leasing is another option, and one that shouldn’t be dismissed out of hand. If you plan to change your car at regular intervals, it could be to your advantage to consider leasing. Moreover, if you can anticipate the number of kilometres that you’ll drive on an annual basis, your dealer will be able to give you a lease that meets your needs.
But the biggest advantage when you lease a car is that you’ll have lower monthly payments, since the dealer doesn’t calculate the residual value of your vehicle as part of your monthly instalments.
WHAT WILL YOU CHOOSE?
To recap, here are the factors that will push you to choose one or the other:
Buy a Car:
• You own your car
• You choose to keep your vehicle on the long term to make your purchase profitable
• You don’t have any annual limit on the number of kilometres you can drive
• You can resell your vehicle whenever you like.
Rent a Car:
• Your monthly payments are low
• You can change your vehicle more often
• You can choose a maximum number of kilometres you can drive on an annual basis
• You can buy or return your vehicle at the end of the rental period.
Although we can help you see the advantages of buying or leasing a vehicle, we have to admit that the choice is yours and that it all comes down to your needs and preferences.
At L’Ami Auto Crédit in Chicoutimi, La Malbaie, Baie-Comeau, Alma and Sept-Îles, we can help you reach your decision about whether to purchase a car or lease a car. Since we’re car financing and car loan experts, we’re in a position to give you good advice. Come and see us today!
