Taking out an Auto Loan vs. Leasing Your Next New
Car--We Discuss the Benefits of Both
There are a lot of decisions to be made throughout
the entirety of your car shopping saga. Choices like, where will you go to find
your next vehicle? What make and model is the right fit for you? And perhaps
most importantly, how will you finance the car in question? This last decision
is often one that many drivers in the Brooklyn, and
Bay Ridge area get hung up on: whether to take out an auto
loan or simply lease the car they're interested in driving home in.
As is the case with all the decisions to be made
when car shopping, the financial debate is largely a matter of preferences. If
you're wondering which route might be advantageous for you, feel free to come
by our finance
center here at Life Quality
BMW; or, read on to learn a little more about the benefits
of buying your next car as compared to those of leasing it.
Benefits of Taking Out a
- When you're financing the purchase of a car, that
car is yours when the payments are completed. Therefore, you can modify
it as you'd like; the same cannot be said when leasing.
- Typically, there's a cap on the number of miles
you can driver each year when leasing; when you've taken out a loan, the car
can be driven as much or as little as you see fit--it's solely up to
- Typically, leasing is more expensive in the
long-run, as opposed to buying your car and driving it for the entirety of its
Benefits of Leasing
- You can typically drive a better car for the same
or a lower monthly payment you would be making if you had taken out a
- If you like to always have the latest and
greatest, leasing allows you to more easily drive a new, updated car every two
years or so.
- No need to worry about the hassle of trading in
when your lease is up--simply return the car to the dealership.