Choosing between buying and leasing a car seems complicated, but you can make it easy if you know the signs which will lead you to the right decision. When you do not know which way to move forward, these are some indicators that leasing could be the best option for you.
You like driving a new vehicle
When you purchase a car, it will be yours forever. Even if you want to drive a new car, you cannot do it because you already spent a lot paying for the car that you currently have. Therefore, if you want to have a new model every couple of years, you can opt for cheap car lease deals. You will not make a mistake with these choices considering that after a few years the lease will end, and you have the chance to lease a new car.
You do not drive long distances
With a car lease, you might have to limit your driving because if you go beyond the allowed mileage, you could end up paying more. You need to stick with the limit, and it is challenging if you are using the car for business purposes. However, if you are not driving long distances, and you intend to use the car only for regular home and work needs, leasing would suffice.
You want low monthly payments
You have a limited budget each month, and you do not want to use your money on paying your car bills alone. Therefore, leasing is best for you since the monthly payments are a lot lower than when you decide to buy a new car. You also do not need to pay hefty amounts for car sales taxes. If you cannot afford a new car due to the extremely high cost, you might want to lease for now.
Your car needs might change soon
You are at a point where changes could happen in the future. For instance, you might already be thinking about proposing to your partner and getting married. You might also have a wife who is currently expecting. Your needs will change in time, and it is best if you lease a car that you can change after a year or so. You will not feel pressured to stick with it even if your needs have already changed. Once your baby arrives or your family starts growing rapidly, you can buy an appropriate vehicle and let go of the one you currently lease.
There is nothing wrong with deciding to lease a car if you look at these reasons. You might even regret the idea of buying a car that you will only use for a few months because you have other plans in the future.
Start by looking at the models you want to buy and the leasing cost before you finalise your decision. You can also consult your loved ones who will be using the vehicle.