Rent vs.Buy a Car

Only available on StudyMode
  • Topic: Receipt, Commerce, Payment
  • Pages : 1 (340 words )
  • Download(s) : 56
  • Published : November 28, 2010
Open Document
Text Preview
Renting Vs. Buying a Car
Choosing between buying and renting a car can be hard, because both have their pros and cons to them. Personally I would buy the car because you can do what you want with a car that you own. There are different factors you should look at when deciding which one you should choose. You should look at upfront cost, monthly payments, and vehicle return process. Upfront cost is a good factor to look at when you are deciding whether to buy or rent a car. When you are renting a car you have to pay a lot more upfront because you have to pay a security deposit and a down payment plus those taxes and registration fees. When you buy a car you can either buy it all upfront or finance a loan. When get a loan all you have to pay is the down payment and the other fees. Once you have the car you still have to worry about the monthly payments. Renting a car may give you less of a monthly payment, but after it’s all over you have to give the car back. When you buy a car your monthly payments might cost little more than if you were renting it, but once you’re done it’s your car. Return of the car is another thing you have to look at in this process. When you are renting you have to make sure you don’t go over the mile limit and don’t damage the car too much because it really doesn’t belong to you. When the whole process is over all you can do is walk away or lease another car. When you are done making the payments on a car that you bought you get to keep it, sell it, or trade it in. It doesn’t matter if there are too many miles on it or if it’s damaged because you own it. That’s why I’d rather buy my car.
tracking img