It’s always exciting getting a new car. It’s not just that strange, but the nice brand new-car scent, but because from now on, you will proudly drive the latest model with all its gadgets and safety features, knowing you won’t have to worry about car malfunctions for a while.
A brand new car is not cheap at all and you need to determine how you plan to pay for it. Let’s face it, most of us don’t have the financial capacity to pay cash for a new car and you probably don’t want to find yourself unable to keep paying for it, after a while.
At Big Dog Wraps we hear discussions on the subject all the time and the truth is, there is no right or wrong answer. It is basically a matter of considering your budget, driving needs, preferences, and lifestyle, in order to come forward with the best choice.
Here is some basic information that could help you determine whether to buy or lease a brand new car.
Buying
Some people have the urge to drive the latest model all the time, but if you are not a “picky person” and you don’t mind driving an older car, then buying is the right choice. Even though you need a loan to buy a new car, on economic grounds, buying usually is the best decision, especially if you plan to keep the car as long as possible.
When you buy a car, you own it, so as you continue to make loan payments, you’re gaining equity in the vehicle. Once you’re done paying off the loan, the car is yours and you are free of monthly car payments.
Buying is also a good option if you do a lot of driving. One of the biggest benefits that buying has over leasing is that there are no mileage restrictions. However, every time you purchase a car, you gamble with its resale value. Therefore, it is very important to keep your car in shape with regular maintenance.
Leasing
Leasing is the easiest way to get an expensive new car and keep driving new models every three or five years. If you enjoy having the newest high-tech features, leasing could be the best choice for you. Since you’d be leasing every few years, each new car you lease will have the latest and greatest technology and safety features.
However, leasing a car rather than buying it will generally cost you much more than simply financing a purchase from the start because you will have a monthly payment, for quiet some time. Maybe even forever, if you keep renewing your car park.
Nonetheless, with leasing you might be able to get more car for less money because a car loan is based on the full price of a new car, while a lease is based on only a percentage of the car’s price. With a car lease, you only pay the difference between the car’s price and what it’s expected to be worth at the end of the lease.
When leasing, your car is usually covered under warranty for repairs for the duration of the lease. Many leases last about three years, which is typically the length of many new-car bumper-to-bumper warranties.
However, you need to maintain the car properly because failure to its maintenance during the lease can result in fees when you turn the car in at the end of the lease.
Before leasing, it is vital to estimate how many miles you drive per year, so you can determine how many miles to purchase. Lease contracts limit the number of miles you can drive. If you go over that amount, you’ll pay a very expensive fee per mile at the end of the lease.
Customize?
Since you plan to keep the car for a very long time and you decide to buy one, remember you can preserve its original paint, with our finest car wraps. Big Dog Wraps offers the best solutions in car wrap and vehicle mobile advertising.
If you are leasing a brand new vehicle fleet for your business, we can wrap it with high impact, accurate, custom business designs that express your corporate image, products, and services.
We only use the finest types of vinyl in the market that not only won’t damage your car’s paint job but in fact, it will protect it. Make your choice, by or lease your new car and protect it with Big Dog Wraps.