Is It Better To Rent Or Purchase A Car
In the first year, a car's value will drop by two-fifths (or 40%). The question is: Why buy? This article will explain the pros and cons of leasing vs. purchasing and help you choose which option is best for you.
A lease is a long-term rental agreement in which you agree to pay a fixed monthly rent.
This is not only logical for a purchase that will depreciate as soon as it leaves the lot but also for those who want to always be in the most recent models.
Your monthly payments will be about half the amount of a loan, so you can feel content. This arrangement has one drawback: no matter how much you pay for it each month, you will never own it.
You should also consider how many miles your rental vehicle will be used. You will be subject to a per-mile penalty if you exceed the limit in most contracts.
Keep in mind, however, that you will be responsible for any car damage sustained while it is in your care.
Overall, you can walk away from a vehicle you don't like, but you won't have to worry about selling it. Instead, sign a new contract for your next "best".
When to Buy?
Not all cars depreciate rapidly. These are five vehicles that we recommend buying, and whose value has remained stable over time.
- Audi A4 Avant 2.0 TDI 143 SE
- Audi TT 2.0 TDI Quattro
- Citroen Grand Picasso 1.6 HDi X4
- Honda Jazz 1.2 i-VTEC S
When it comes to purchasing a vehicle, any one of these makes/models is a smart investment. When properly maintained, they are durable and will hold their value.
It could be a smart investment as long as the vehicle you choose to buy doesn't depreciate quickly. Leasing can be a good option for others who want to have the security of leasing. Once the contract ends, you are free to buy a new vehicle every two or three years. Move Car offers a solid guarantee if you're purchasing a vehicle. Get in touch with us today to find out more and discover how affordable we really are.