Would you finance or lease your car? | The Tylt
Cars have always exhibited a vibe of easy living. Actually getting a car, however, is anything but easy. First off, they can cost quite a bit, unless you buy used, which is yet another thing you have to account for. Then there’s that whole financing versus leasing thing—you know, either taking out a loan to eventually buy or simply renting. Which would you do?
Would you finance or lease your car?
Financing is the option one should take if you’re looking to have a forever car (or, you know, at least one that lasts a while). It’s essentially taking out a loan that’ll help you pay for whatever vehicle you’re looking to drive long-term. Essentially, you’re buying as opposed to borrowing.
Before you go ahead and finance, you really need to take into consideration your credit and how much money you’re willing to pay upfront. Other than that, benefits of owning a car are paying less over time, and even having the option to sell it. There’s also no mileage limits, so drive, baby, drive!
If you’re not really committed to one type of car, leasing is the way to go. It’s a way to save money in the now and save for the big purchase for the later, like renting an apartment in order to eventually buy a house.
The thing with leasing is that the car’s not technically yours; you’re borrowing it for a determined amount of time. If that’s all cool with you, though, by all means, lease away!