Submitted by adibreban on
When thinking about leasing a car one must carefully consider all pros and cons... just like with any other decision one must make. The benefits of choosing leasing versus buying are quite obvious ( for instance: low down payments, low monthly payments), but the downsides of leasing a car might just prove that this alternative is not quite what you might need.
For instance, while buying a car implicitly makes you the owner of the automobile, in leasing you are merely the person who gets to use the car. You do not own it, except maybe at the end of your contract, when and if you decide to stick with it and buy it. What exactly does that mean? Basically, at the end of the contract, you have to turn in the key and… walk away… Speaking of contract, beware of the fact that terminating the contract earlier is only going to cost you a lot more money, so if you are considering leasing a car, decide wisely regarding the length of the contract period.
For those of us who would add something up to the beloved car, modify something, mind you: at the end of the contract, the vehicle must be returned in its original condition! Anything you change in the vehicle you will have to change it back at your own expense.
Also, one must be careful about mileage. Exceeding your mileage means paying the extra mileage. Usually, the limit is up to 15.000 miles per year, anything above it will cost you more.
Leasing usually come along with high insurance rates.
So, all in all, unless you are determined to change your car every two or three years with no trouble regarding its selling (just make another contract, choose another car, etc) leasing a car – old or new- might not be right for you.
Wise decisions are not usually made on the spur of the moment; they need thought and wise consideration, so ultimately, being a satisfied (consumer, customer, etcetera) resides in your own ability of making the right, suitable choice for you.