Why Buying Used Is Better Than Leasing

By Mike Richards Posted: 12/27/2017

If you need a vehicle, and you do not like the idea of buying, you might have been considering leasing instead. You reason that it might be cheaper, and that it could be easier for you to get the money needed for the car. However, instead of leasing or buying new, why not consider the benefits of buying a used vehicle. When you choose to buy used cars for sale on the web, you can find some nice benefits that help to make it better than buying new or even leasing.

Leasing Is Like Renting

When you lease a vehicle, you do not own it. You are not working toward owning it either, although it may be possible to buy the vehicle at the end of the lease. Instead, leasing is more like renting. Since you will not own the vehicle, it can feel as if you are throwing money down the proverbial drain each month. Keep in mind that you will still be responsible for insuring the vehicle, so that is more money going to something that you do not even own.

Since the biggest depreciation happens over the course of the first year or two, it means that you are always taking the full force of depreciation. For example, if you lease three vehicles over the course of ten years, you are essentially always paying top price for the vehicles, despite leasing them. When you choose a used car that is just a couple of years old, you do not have to worry about the depreciation.

The Mileage

When you buy a used vehicle, you save money on the cost of the vehicle when compared to a new vehicle, and then you can drive the vehicle for as many miles as you wish. When you have a leased vehicle, you will have a certain number of miles each year that you can drive. If you happen to go over that limit, you will then need to pay extra fees. Those fees are on top of your payments and your insurance, of course.

You Own the Used Vehicle

You own your used vehicle, and you do not have to worry about mileage, spills, or anything else that could happen over the course of your ownership. With used cars, there could be the need for repairs and maintenance, but if you buy a good vehicle and take care of the vehicle once you have it, these should not outweigh the benefits of buying used rather than leasing.

Since you own the vehicle, it means you can make changes or customization options to it, as well. You can change out the radio, paint the vehicle, and make other changes as you see fit. If you were to lease a vehicle, you would not have this luxury. The car needs to be as close to perfect condition as possible when you turn it in.

When Is Leasing Okay?

There are very few times where leasing is going to make much sense. If you are going to be leasing a vehicle that will be solely for your business, you will be able to deduct more on your taxes. However, most of the time, you will find that buying tends to be the better option.

Leasing is limited, and while some people might like it, there are better ways. Namely, if you buy used cars for sale online or offline, it can relieve you of the headaches that leasing tends to cause. When you combine these factors with the savings in cost, it is easy to see why so many people choose to buy a used vehicle.

Choose a Good Used Car

Of course, if you have a lemon of a used car, it is not going to be a better option. You need to put in the time and effort to research good used cars for sale worth buying, and check to make sure you are getting not only a good car, but a good price. With some effort, and going through quality sites and sellers, you will find that it is indeed possible to find excellent used vehicles that can make leasing obsolete.