When you are in need of a car you might encounter the situation wherein you need to decide whether to buy a car through a car loan or get a car lease. The decision that you would make should not only based on which of the two options has affordable rates. You also need to consider your preference on how to obtain the vehicle and how you would drive the car.
Outcomes of buying and leasing
When you buy a car through financing, you need to obtain loan that usually lasts for 3-5 years. Within this period, you would be paying monthly payments and interest rates. However, you get the ownership of the vehicle as soon as you pay the loan off. In case you want to sell the car you have all the right to do so and enjoy whatever profit you earned from the sale.
Leasing a car on the other hand also involves monthly payments and interest rates. The term of the lease would also be similar to car buying but leasing has different outcome. As soon as the lease term ends, you are required to return the car. This simply means that you don