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Your needs are the most important issue when deciding the best financing option. As most of you already know there are two ways to purchase a vehicle. Leasing and traditional purchasing are the two most popular forms of vehicle purchasing. Lately new vehicle acquisition programs have become popular. These programs include both forms of leasing and traditional purchasing. The following is some neutral advice to aid you in this important decision process.
The Case for Leasing.
* Leasing enables you to drive a new car more often.
The #1 advantage to leasing a vehicle is that leasing terms can be shorter than purchase terms, yet with similar monthly payments. This means that you can get into a new vehicle quickly and more often.
* Low monthly payments.
Monthly lease payments are frequently lower than most purchase payments because lease payments cover the anticipated depreciation of the vehicle, plus rent charges, taxes and fees.
* No need to replace ordinary wear and tear items.
This occurs only if you stick to the scheduled maintenance of your leased vehicle and your lease expires under the protection of the new vehicle limited warranty.
* No resale or trade-in headaches.
There are numerous options for you to choose once your lease ends. You may apply for a new lease, buy the vehicle (if that option is stated in your lease agreement), buy a different vehicle, or merely return the vehicle and walk away.
The Case for Purchasing.
* Unrestricted ownership.
The #1 advantage to purchasing a vehicle rather than leasing it is the vehicle title is in your name - not the leasing company's name.
* No restraints on mileage or wear and tear.
This is great for those individuals who enjoy leisure and setting their own deadlines. Remember the vehicle is all yours so you don't have to answer to anyone beside yourself. There is no limit on how many miles you accumulate and no rules against the wear and tear on your car. Although keeping your car healthy and in pristine condition is very important when it comes to resale or trade-in value.
* Thinking of selling or trading-in? The vehicle is yours to do what you want.
Anytime you feel the need to invest in another vehicle or something completely different, you can pay off your contract or trade-in your vehicle for another.
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