You’re almost ready to take the plunge and make a Land Rover Discovery Sport SUV your next car. First, though, you will want to know the differences between leasing vs. buying. Drivers in Hanover, Norwell, and Weymouth, Massachusetts, can learn from the experts at Land Rover Hanover, so let’s get started!
Many drivers decide to lease a car, but what does that entail? How can you tell if it’s the right route to take?
Leasing a car essentially means that you’re renting it for a specified period of time. Lease terms typically extend from two to five years, depending on your proposed agreement. Once you’ve reached the end date, you’re free to return the car, buy it outright, or upgrade to the newest model and continue with a new lease agreement.
What’s great about a lease is that you’re given the opportunity to try out a brand new, fully equipped vehicle. It’s a short-term commitment that can work splendidly if you’re in need of a car for a few years only or like embarking on a new journey every few years. If you change jobs and need a different type of car, you’re free to explore.
Factory and dealership warranties will cover the vehicle for the majority of the lease period. That means you’ll only need to keep up with regular maintenance and can depend on a car that’s fit for driving the distance, or, at least, your set commute. While you will need to stay within the designated mileage, it’s a piece of cake if your travels do not take you too far.
Buying your car means that you own it. You’ll be paying it off monthly until you reach the end. When you’re ready for a new car, it’s up to you whether you want to sell, trade it in, or keep it. Plus, you’ll be able to customize it as you wish with sharp accessories and other convenience and comfort items.
Car buyers can drive the car anywhere they want and go as far as they want. If you’re planning a cross-country excursion, feel free to go for it. You’re not limited to traveling wherever you plan to go.
By paying for your car, you’re building equity that can last a lifetime. Your credit history can be boosted with a clean and solid record of monthly car payments. That means if you’re in the market for a new house, vacation home, or boat, you have the credit to prove that you’re a viable borrower.