Are you struggling to decide whether to lease or buy a car and want to know where you can save more? If we are just to consider the price of obtaining a car, then buying a used car in Calgary might be the best choice. Yet, used cars have more mileage and might be more prone to needing repairs, which means additional expenses. Getting a brand-new car would cost you a lot a first, but with proper care, the car can be resold at a good rate. A lease might be more expensive than buying a used one but it is cheaper than getting a new one. In order for us to determine the most affordable means of buying a car, we have to first look at its advantages.
Leasing Advantages
The best advantage you get with leasing a car in Calgary is that you get to drive newer car models without having to pay for it as much. Aside from the prestige driving a new car provides, you also get to enjoy its advanced features, such as the technology, safety, and comfort. Since you are driving a new car, it will always be under warranty until the end of the lease period, which is usually three years. By this, you avoid costly out-of-warranty maintenance and repairs.
Another advantage of leasing a car in Calgary is that you have the option of buying the car at the end of the lease period. The sale price is determined at the beginning of the lease period, so even if the car held its value well and has not depreciated as expected, you get to buy the car at a bargain. You might even have some profit if you decide to sell it afterward.
Ownership Advantages
The advantages of owning a car can be felt better if the car is paid in cash or has been fully paid off. Its first advantage is that you can sell the car whenever you feel like it, compared to a leased car, where you have to wait for the lease period to end. You also have the luxury of modifying your car, which is not allowed for leased cars. With leased cars, you have to be careful not to incur excess mileage and wear and tear because it would mean penalties on your part. You don’t have to worry about such things when you buy a car.
Let’s say you got your car through financing, and you just paid your car in full. Not only will you enjoy not having to pay anymore, but you can also now use the money allotted for the monthly car payment somewhere else. You can save it, invest, or add it to your monthly allowance. You can now have the car for as long as you want unless you decide to sell. But the longer the car stays with you and the more miles it accumulates and the lower its value becomes.
Consider Your Lifestyle
Before you decide on whether to go through the used cars for sale in Calgary or lease one, the most important thing to consider is your lifestyle. Are you ok with a used car, an older model that has miles in it and might be up for constant repair and maintenance? Are you planning to get a brand-new car and use it for as long as you con before you dispose of it? Or do you want to drive a new car and would like to upgrade in two or three years but cannot afford to buy? The car that you drive and the means of obtaining one have to match the life you are living and your capabilities. It is not just the price of obtaining a car that determines its affordability.