When you’re ready for a new car, you have plenty of options. Among the cheapest is leasing a new vehicle or buying an older car. However, many people ask themselves, “Is leasing a new car the best idea?” In short, everyone loves having something new, but when it comes to new versus used cars, it’s important to carefully weigh the pros and cons to ensure you make the smart choice.
Pros and Cons of Leasing a New Vehicle
As you consider leasing new versus buying an older used car, you will notice there are several pros and cons to each option so it’s necessary to understand what’s most important to you. In terms of leasing a new vehicle, you will:
- Get a new car every few years
- Have low maintenance costs
- Enjoy a full warranty
- Little to no down payment
However, there is a negative side to leasing as well. You will be paying for something you don’t own and will likely have mileage restrictions. Leasing also means you will always have car payments and may experience higher finance charges. You must also follow manufacturer recommendations closely and won’t be able to trade in early.
Pros and Cons of Buying an Older Model
For many people, the benefits of purchasing an older used model will far outweigh those of leasing a newer car. For instance, it’s attractive to own the car when you’re done and to have an end in sight for payments. In many cases, older models will still have some warranty left, and you can find options with low miles, along with lower payments. The best part is there are no mileage restrictions.
Despite the attractive benefits of buying used, there are some cons to also consider. Used vehicles will require more extensive maintenance. You are also less likely to be able to purchase a new car every couple of years. It is a long-term commitment. Finally, there is always a risk of a pre-existing issue that may not be identified at the time of purchase.
In the long run, leasing new versus buying an pre-owned car is a personal decision. For this reason, it’s important to consider all of your options and evaluate the pros and cons of each choice. Once you make the final decision, you need to find the right dealer to help you find the perfect car to meet your needs and your budget.
If you’re looking for the right car, contact us. DeBoer’s Auto carries a vast selection of used cars, all of which are fully inspected and provide the reliability you need.
