Car Purchasing Vs. Car Leasing

Choosing between a car leasing and car buying is always difficult for any person. These things depend upon the customer lifestyle and preference. The following list will summarize the pros and cons of leasing a car and buying a new car:
Advantages of leasing

• Lower EMI have to be paid
• Less down payment while leasing
• Experience of better car within less money.

Disadvantage of leasing

• Limitation of fixed miles per year. A consumer is allowed to drive up to 13,000 mile per year.
• Contracts document are confusing and may result into extra pay.
• More expensive in longer term of lease.
• Charges of damage can add up the more amounts.
• Early termination of the lease could result to heavy loss.

Advantage of car buying

• It gives the ownership power; hence an owner can modify the car as per its need.
• This will be more economical if a buyer wants own the car for longer period.
• No any limitation of fixed miles per year. An owner can drive as it wants every year.
• Flexibility to sell the car whenever a owner want to sell it

Disadvantage of car buying

• Higher EMIs
• More down payments while buying time.