Introduction

It is incredibly difficult to watch television without being bombarded by car advertisements that lead to daydreaming about driving a new vehicle. The exciting need for speed, the thrilling lust for luxury, and exciting new adventures are just waiting to be grasped down at the nearest auto dealership. Deciding whether to buy or lease that new vehicle can be a tough decision. Each method has its plusses and minuses, but with a little research of credible sources, the choice becomes much simpler.

Benefits of Buying a Car Instead of Leasing

There’s no feeling quite like buying a new car, and the pride of ownership is unmistakable. One benefit of buying a car rather than leasing one is that when the loan is paid off, the vehicle becomes a tangible asset for the owner. The car, now paid off, can be sold for profit, leveraged as equity as a trade-in, or even given to a loved one as a gift. The purchase of this asset also means that there are no further monthly car payments to make. This allows the owner to budget the funds previously allocated to those payments and direct those funds toward some other endeavor. Essentially, once a car is paid off, it’s providing a new revenue stream for the owner.

Another benefit of buying a car instead of leasing is that there are no restrictions on the amount of miles you can drive each year (U.S. News). The owner of a car has the freedom to drive where they want for as long as they want without the fear of a mileage fee hanging over their head. This kind of freedom allows the owner to make decisions about where they live or work without concern about the long commute. It also opens up the possibilities for long, leisurely, scenic rides or even driving to vacation spots across the country.