GTOSpirit

GTO information

GTO History

GTO FAQ

GTO Articles

Resources

Directory

GTO PONTIAC SPIRIT

Articles

To buy or to lease

Buy or Lease? It's the classic dilemma that faces every auto-consumer out there: Pay cash upfront or forego the ownership and pay monthly settlements instead? Buy or lease for a new set of wheels? As is the case with every other common dilemma, there is no slam-dunk answer. Each option has its own benefits and drawbacks, and it all depends on a set of financial and personal considerations. First, your finances. Affordability is clearly key, and you need to ask the question of how stable is your job and how healthy is your general financial situation. The short-term monthly-cost of leasing is significantly lower than the monthly payments when buying: you only pay for "the portion" of the vehicle's cost that you use up during the time you drive it.

If you have a lot of cash upfront, then you can opt to pay the down payment, sales taxes - in cash or rolled into a loan - and the interest rate determined by your loan company. Buying effectively gives you ownership of the car and that feeling of "free driving" that goes on providing transportation. If, say, you want to get into luxury models but can't afford the upfront cash of purchasing the vehicle than you're a good candidate for leasing. Unlike buying, it gives you the option of not having to fork out the down payment upfront, leaving you to pay a lower money factor that is generally similar to the interest rate on a financing loan. However, these benefits have a price: terminating a lease early or defaulting on your monthly lease payments will result in stiff financial penalties and can ruin your credit. You need to make sure you carve out the monthly lease payment in your budget for the foreseeable future, at least for the duration of the lease.

Besides the financial aspect, making a buy or lease decision depends on your own particular lifestyle choices and preferences. Think about what the car means to you: are you the sort of person to bond with the car or would you rather have the excitement of something new? If you want to drive a car for more than fives years, negotiate carefully and buy the car you like. If, on the other hand, you don't like the idea of ownership and prefer to drive a new car every two to three years then you should lease. Next, factor your transportation needs: How many miles do you drive a year? How properly do you maintain your cars? If you answer is: "I drive 40,000 miles a year and I don't really care much about my cars as I don't mind dealing with repair bills", then you're probably better off buying. Leasing is based on the assumption of limited-mileage, usually no more than 12,000 to 15,000 miles a year, and wear-and-tear considerations.

Unless you can keep within the prescribed mileage limits and keep the car in a good condition at the end of your lease, you might incur hefty end-of-lease costs.

Alexander de Albuquerque. For more information on this topic and any other car related subjects please visit us at http://www.car-insurance-articles.com
Submitted by: Automatic Article Marketer



Pontiac GTO






Keep Your Dodge Tires for a Long Time - The tires are very much known as the part of the vehicle that keeps the vehicle on the road and also helps in making the ride much more comfortable.

Spare Wheels Are So Inconveniently Stored In Modern Cars - Having been a keen British classic car enthusiast for many years (particularly fond of the Jensen classic cars of the early sixties) I only recently purchased a very advanced luxurious modern car.

Your Trunks Saving Grace - Do you remember when was the last time you looked in your trunk? Statistics have it that the trunk is oftentimes one of the most neglected parts and areas of a vehicle.

The Boeing B Flying Fortress - Of all the heavy bombers that flew in WWII, the B-17 Flying Fortress was without a doubt one of the two most famous, the other being the Lancaster.

Car Buyers Looking for Fuel Efficient Cars To Hedge Gasoline Pump Prices - Well, it is finally starting to happen; car buyers are now going to the dealership in their first question is what kind of gas mileage does this car get? In fact many car dealerships are noting those can have already put special stickers on those.

more...

© Copyright 2018 GTO Spirit. All rights reserved. Unauthorized duplication prohibited.