Understand the Benefits of Leasing and Buying

The decision of whether to buy or lease your next car can be a difficult one to make. Things such as local market conditions and many other factors, such as interest rates, can make one option become easily attractive over another.

People who need to be using their cars frequently, especially for work, may prefer to buy their cars outright. With full ownership, they won't need to worry about the mileage restrictions that are frequently imposed by lease agreements. When you own your car, you're also free to modify your car and resell it, if you wish.

Leasing meanwhile, offers lower monthly payments and a shorter term commitment. Most lease agreements only last a few years, after which you can return it and move on to something newer. Lease agreements do come with more restrictions, but they can be a solid choice if you're working with a limited budget or aren't ready to buy.

To learn more about the differences between buying and leasing, contact the finance center at Glenn Ford Lincoln in Nicholasville, KY. We can provide you with the information you need to make an educated choice.

Categories: Finance


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