Car Costs Compared: Buying New, Buying Used or Leasing?

When buying a car, there is an entire bunch of papers and research behind it. It is not as easy as it seems, unless you have enough cash and do not have to worry about it. Usually, buying a car takes some time until you can find a perfect car for you, and also until you strike a good bargain. Buying can go in three ways: buying a brand new car, buying a used car, and buying a car on the cost of leasing. Below listed are the details concerning each of these categories, along with the pros and cons of every buying plan.

New Car

When buying a new car, there is no much that can go wrong. Usually, it is a set price which cannot really go up or down much. Maybe the company selling it will give some special discounts during holidays or some other events during the year, or make a special plan for you to pay the car off during several years, but it is usually expensive and it costs up to $400 per month.

When paying for the car in cash, the price is significantly smaller, for there are no interest rates, but new cares can cost a whole fortune and only a certain people can afford it. Usually people choose a plan that will be paid off in the next 5 to 10 years. Overall, buying a new car is the most expensive option, but it can be prolonged the most since the car is paid over the longest period of time. And the best thing is, they come with the warranty which last for almost a decade, so whatever happens, you have it covered.

Car Costs Compared: Buying New, Buying Used or Leasing?

Used Car

When buying a used car, you can save a lot of money, but you never know what might happen. The car has been used for quite some time, and it has a pretty decent mileage. But, when buying a late model used car, you can usually drive them for several years before you will have to replace any of its parts. Car experts suggest that the best value for your dollar is achieved by purchasing a used car, especially a late model one. One of the smart ways of finding a proper vehicle is by attending car and motorcycle auctions. There can be great deals, if you manage to be at the right place in the right time. Also, check out all of the car depots and try to find the car you are looking for in a good condition and for a good price.

Car on Leasing

This option should be considered as last, since leasing is not really the best way of getting a car. Let us be honest, once the leasing is over, you are left with no wheels. And yes, we agree that leasing is probably the cheapest option, but is it really worth it? The only possible scenario where I see leasing as a profitable purchase is if you own a business and are able to get a tax deduction by listing the car as the company’s expense. In that case, buying a car on leasing is more than profitable. Other than that, leasing a car can be a nightmare, for if you miss one monthly rate, the car is gone and all the money you invested in it is also gone. Leasing is a dealer’s game, and the house always wins.

Choosing a buying method is all up to you. Take your time, do the research and choose a car that fits you and your needs perfectly. Make sure you try to get a good bargain, and save every dollar that you can in the process. Good only if you own a company, smaller or a large one, and if you can claim taxes on it if it is listed as the company’s expense.

Lillian believes that the question of business goes far beyond the maximization of profit through different money-grabbing ploys. Instead, she likes to think that ethical principles should be at the core of every commercial venture, paving the way for much more balanced distribution of wealth on a global scale.

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