Is It Better Investment to Have Ownership vs Leasing a Vehicle? Pt 2

Disclaimer

Here on Selfmadesns.com I’m only giving you my life experiences. So, you may learn and benefit from my mistakes along the way. As well as learn from all of the good decisions I made. What may work for me in some different experiences is not always what you should be doing on your own. Always do your own research or speak with a professional on the subject. Better yet do both guys. It will be way more beneficial for you at the end of the day. If you want more information on our terms, please visit our terms and conditions page along with the privacy policy page as well.

Hello to everyone here today. I hope everyone is doing well and has their mind ready to receive this post today. In part one of ownership vs leasing a vehicle part 1, we went over the ownership part. So, yes today we will be going over the leasing part of that post for you guys today. I’m going to give you guys my pros and cons of leasing a vehicle. You may not think some cons are cons or pros are pros. That’s fine my friends I’m only here to give you guys my Point of view of how things look in my life. With that being said let’s jump into part two guys.

PROS

Lower Payments

When you go to a car dealership to lease a car. You will usually come to find out that the dealership leasing monthly payment is lower than the car payment if you were to buy the car. This took me a little bit by surprise because I was thinking it was going to be like renting a home. If you didn’t know when you are renting a home the landlord, it trying to get the most money out of you they can. But when you are buying a home your mortgage payment are they lowest the bank is willing to take. That’s why it’s never too late to learn something new.

New Cars

When you are out there leasing a car it’s usually for a few years at a time. So, every few years you get it jump into something new if you want to. And why wouldn’t you want to take avenge of that my friends. especially if you into cars. From my own experience from leasing cars, it’s nice getting inside a new car every few years. It’s nice to see the changes that these car companies are making each year. The technology in these cars is amazing today. It’s something I really feel everyone should experience every once in a while. Even if you just go to test drive a newer car from time to time. You’ll get to see how far we really have come.

Coverage/Budget

Anytime I go to lease a vehicle from a nice dealership I make sure I get the best warranty coverage they offer for as long as I’m going to be leasing the vehicle. The reason I like to do this is because who really want to come out their pockets when something goes wrong with the car. I know there will be someone saying you doing that anyway paying for the warranty. I guess at the core of that POV I may agree with that but, I like not paying that big amount when it comes up. Especially when you are buying a vehicle you have higher payments, insurance, and now repairs. No sir, I’ll take warranty for 500 Bob.

Only thing me getting that warranty does is help me stay on budget monthly. Now I don’t have to worry about unexpected car repairs slowing me down too much. If the car needs to be in the shop for a bit, they’ll usually make sure you are able to get around still by giving you something to get around in.

CONS

No Ownership

As you know when you are leasing a vehicle you don’t own the vehicle. You are really just renting the vehicle for a longer amount of time. Very similar to renting a place to stay and owning a home my friends. One you get to get pretty comfortable in for a while until you ready to go. On the other hand, you know you’re there for a good time not a long time. You don’t get all the benefits of owning a home. But that only matter if ownership matters to you.

Restriction

Usually when you are leasing a vehicle it comes with a mileage restriction that you have to stick to. If you fail to do so, you will be hit with additional fees for doing so. This makes you have to be very mindful of using the car. Now you can’t just get up and hit the road when you want to whenever you want without thinking about that part. Who really wants to be thinking about that when it’s time to go. I know I don’t want to be doing all that.

Wear & Tear Fees

Now if you are someone who is hard on cars, like just ruff. I mean like just putting everything in there, moving out an apartment inside a car, or anything like that. This might be something you really want to think about. When you leasing you have to be mindful of how you treat the vehicle at all times. Because it’s not really your car. So, you have to treat it with the care and respect you would as if you were driving a friend’s vehicle.

Fees

You know when you are doing business with these big companies, they like to get what they can from you and get some more. That’s one of my favorites saying to use nowadays guys. But you really have to watch these people because the love to hit you with them hidden fees when you least expect it. That’s something you don’t have to worry about when you on the ownership part of this post.

Summary

There we have it the second half of this post. I didn’t give you guys this post to push you on one side or the other. But to just give you all the information I have gathered from leasing and owning vehicles over the years. Now it’s up to you to take this information and do with it whatever you want. They both are usefully if you use them right and for the right situations my friends. I would like to take this time to thank everyone for being here and for your time. Please come again and tell your friends and family about the blog if you feel it would be helpful to them. Good luck out there!