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The answer to this question lies within the individual that is looking for a new vehicle. There are pros and cons that go with each of them. Making it vital that the individual research and be sure of the decision they are about to make about leasing or buying a car before the final paperwork is signed and made legal.
Driving around in a new vehicle is a wonderful thing, however, it should also be affordable to do so. Depending on the amount of money that is available might weigh in heavily on the choice of leasing or purchasing the vehicle.
Paying on a lease vehicle is much less expensive on a month to month basis because you do not have pay for the entire depreciated value of the vehicle only the part that you have custody of. Which can wind up saving a fairly decent amount of money in the long run.
Your individual preference should take precedence when making your final decision to lease or buy a new vehicle. For instance, if you rather drive around in a new vehicle every two to three years a lease may be a better choice for you.
If you are the type of person that names your vehicle and really seems to bond with it then purchasing the vehicle might be a better decision for you.
Another top concern when making your decision is exactly what your transportation needs are. For example, in a lease you are only allotted a certain number of miles to be put on the vehicle during the course of the lease.
Are you able to stay in those specifications? Is it feasible that you will not go over the miles for work as well as for play?
Leasing a vehicle and going over the mileage can be very costly, so if you do not anticipate being able to stay within the guidelines in the lease, purchasing the vehicle might be your better option.
On the other hand if you feel you will more than likely not put anymore than about 8,000 miles a year on the vehicle and you prefer to drive a new car every few years a lease is the more appropriate choice for your needs.
After taking into consideration all of the pros and cons of each of the options, it is then that a consumer is able to better make an educated decision on the next vehicle they will be driving off of the car lot.