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What are the benefits to buying?
Home » Automobiles » Should I Buy or Lease a Car » What are the benefits to buying?Buying a car is better, as opposed to leasing for people that expect to drive the car for five years or more. Once you pay off the loan, you'll have transportation without having to write a hefty check every month.
It's also more beneficial for those who drive a lot. Leases put limits on your mileage and if you go over you'll be facing big-time fees. If you think you'll drive more than 18,000 or 20,000 miles a year, buying is for you.
Buying is also good if you want to save money in the long run, and you are looking only at your cash costs. In theory, you could lease your car and invest the difference between the low lease payments and the higher payments you'd owe on an auto loan. In that case, leasing would be cheaper. But if you don't invest the difference, then buying is cheaper overall.
If you're fine with buying a used car, then you'll definitely want to buy. Thanks to the popularity of leasing, dealers are flush with cream-puff cars that were driven for two years and then turned in. Look for one that's "manufacturer-certified" as being in top shape.
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