If you’re going to be running around this winter, tasked with going back and forth from work or simply getting groceries, you’re going to require a means of transport, and so it’s pretty critical that you sort out either buying or leasing a car. Purchasing a car requires you to provide capital for the purchase of the car fully, whereas leasing a motor vehicle doesn’t require all that much capital, and can be traded in when the lease term finishes. The following are some of the main reasons why one should opt to lease a car rather than buying a new car.
Less Capital Is Required To Acquire The Car
Face it: with the winter that’s in store for Canadians, you’re going to need a car. Winter can be an expensive season, and if you opt to buy a car this winter, the loss in capital could mean that you don’t have money for other important things. In this regard, to avoid personal financial constraints you should opt to lease a car for the winter, as leasing entails less finance.This is because the car ownership is not transferred, but rather given to you for a specific period of time (the lease term), an agreement you can stop by AUTO ONE Group to learn more about if you’re interested.
Save the Depreciation Costs
Depreciation is an expense that one incurs when an asset loses value due to wear and tear and aging. It’s one of those unfortunate aspects of life that when you own something, you also own its declining value. In the case of leasing a car, you’re able to avoid the cost of depreciation as it is passed to the car leaser, who is the legitimate owner of the car. There’s none of that worrying involved in leasing, no fretting over what you’re going to do with your car once it’s old and rickety, because you’re never going to see that day. You’ll continually own new cars, and never be on the hook for depreciation.
Avoid Major Maintenance Costs
When you lease a car in Vancouver, Toronto or Halifax, you have it for a determined period of time, as set out in your lease agreement – that much we know. One of the added benefits of the lease term, though, is that it’s pretty much always roughly the equivalent amount of time to the manufacturer’s warranty. This means that, when you lease, your car is always under warranty, so you’re never going to get stuck having to pay for some mechanical issues if they’re not your fault. It’s pretty clear, then,that if you lease a vehicle, you have one less thing to worry about. To sum it all up, you need a car to get around this winter, but you don’t necessarily want to put up a bunch of capital that would otherwise be put to better use, and you don’t want to have to worry about depreciation and maintenance. Luckily, you can always lease a vehicle, enjoying winter the way it was meant to be: worry-free.