Buy or Lease a Car

Topics: Automobile, Insurance, Truck Pages: 2 (632 words) Published: January 22, 2006
Cars, trucks, vans, SUV's… almost everyone will own or lease one in their lifetime. The biggest problem is the decision whether to buy or lease the automobile. Many people are faced with this question. Buying and leasing a car both have many positive and negative attributes. The beauty of it is that it is your choice!

Leasing is one great way to get an automobile. The concept is quite simple. Leasing a car is almost like renting a car for an extended period of time (usually three years), except at the end of the lease there is an option to buy the car. Each month a payment is due to cover the lease. These payments are lower payments then monthly payments on a sold car. Another advantage of leasing a car is that it is in shorter terms. The car will only be yours for a few years. It is not a long term commitment. If you're the type of person that likes to change and drive new cars often, leasing is perfect. Leasing has the great advantage of checking the car off as a tax write-off. This means that the car is going to be paid by your business. This will save a lot of money. One of the best concepts of leasing a car is the GAP insurance (Guaranteed Auto Insurance). This is an insurance policy that ensures protection of the leased vehicle if it is damaged or stolen. GAP provides better coverage than an insurance company would on a purchased car. It is something to consider when there are some many accidents and theft in today's society. Leasing is great. If you do not have the money for a large payment, lease it. Leasing a vehicle enables you to avoid all the repair bills and makes it possible to drive a better, nicer car than you could afford at the time. It is your call!

The other side of the story is to buy the car. It is as simple as that. It is most common for someone to buy a car rather than lease one. When leasing a car, it usually takes place only on a new car. Cars that are eight or ten years old are not leased. Old cars are bought. That is why the market...
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