People love new cars. They love reading about them, looking at the new concepts at auto shows, and some will even visit the dealership from time to time to look at the new models and test them out. Even if you are not in the market for a new car, you still might want to keep tabs on all the new designs and models that the manufacturers design.
One of the things that people do not like about buying new cars is the process. You have to sit down, talk to the finance officer, and you just know they don’t have your best interest at heart. Most likely, they are trying to find ways to get more money out of you. People feel this way whether buying a Ferrari or buying a Kia. The method of purchase that the customer chooses mostly depends on their goals with the car. Information such as how long the car is meant to be kept, the purpose of the car’s use, the finances of the purchaser, and how much they can afford to pay each month need to be known.
So whether you are buying a Ferrari or leasing a Kia, here are a few things you should know.
Advantages of Leasing
For a purchaser of a car who does not want to truly be responsible for it, as in having to take care of all the repairs and the maintenance, and would rather have the dealership deal with the upkeep of a car, leasing is the best option. Leasing is used mostly by the people who would prefer to switch their cars out more often and want to have the newest vehicle that they can have. Leasing is also for people who do not want to deal with the hassles of buying a car such as getting financing or covering the costs that are unforeseen.
They prefer to have the car serviced by the dealership when problems arise. These types of people do not want to spend a lot of time thinking about their cars, they just want to drive the car and not have to think much about it. It is because of this they’re willing to pay the monthly payments until the end of the lease term and the balloon payment after. Once they finish with one car, they will then go on to lease the next vehicle, often times choosing the same manufacturer.
Advantages of Buying
Oftentimes, those people who choose to buy cars intend to keep their car for a long time, or at least as long as they can. They might be used for a specific purpose, such as when a business purchases vehicles. Buying is more often than not used with private sellers since they do not have the options, the resources, or the infrastructure to receive a car back after it has been used for a certain amount of time. This private seller is putting their car out for the sole purpose of getting rid of it once and never having to deal with it again. People who are intending to buy cars have no problem buying cars from people such as this because they were buyers before them. Therefore, they would be more likely to keep their car in a decent enough condition to be resold without much hassle.
Of course, buying your car this way could end up with pitfalls. The seller might be hiding details about the car that will affect how long it lasts, and it may be harder for the buyer to get restitution should anything go wrong with the purchase and they have to go to court. It is for this reason that many people prefer to buy from dealerships. Dealerships, at least most of them, trade on reputation first and foremost. They have to be more professional and meticulous in their business.
Regardless of whether the car is bought from the dealership or a private seller, once you are finished with the purchase, you own the car and are responsible for it from that point on. You have to decide on how you want to keep your car in the best condition you can so you can keep it for as long as you can. People who lease do not have this problem.
In facing these choices, car buyers must focus mainly on their purpose for the car, the amount of money they have to pay per month, and how much they are willing to be involved in the process of maintenance and upkeep.
Buying and leasing are both good options. If it’s time for a new car, look into buying and leasing and see which option will work best for you.
