What is better – Buying or Leasing

Apr 17 2010 The answer to the above question cannot be a simple one as the needs of different individuals and the manner in which they perceive things are different. What may suit one may not suit another. It also depends on the specific situation that the individual is faced with at that time.
On the face of it, leasing a car seems to be a good thing to do as you pay a much lesser monthly amount and at the end of the lease term, though the car will not be in your name, the fact that you can choose a new one of your choice and get into a fresh leasing arrangement is something that should please most people. However, this may not be viewed as favourably by somebody wanting to own a car and for them the buying option is the best one.
When you buy a car, you have the satisfaction of owning one and if you are going to be keeping the vehicle with you till long after the loan repayment period is over, it becomes a worthwhile proposition. It is also the flexibility that you can do what you want with the car at any time when you are on a car loan arrangement that gives it the slight edge over leasing.
However, these are just scenarios and there could be other variables that can influence the decision.

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