Buying vs. Leasing: Which should you go for?



 

Automobiles can be a rather expensive affair, due to which a lot of us miss out on our dream cars and instead choose to settle within a certain budget. Looking at this issue, Dodge has launched a plethora of financial services for its customers. The two most popular ones are buying and leasing. However, it can often be a confusing task to choose between them, as both seem quite lucrative. 

 

Here is a comparative analysis of the two services to help you choose the best one based on your wishes and requirements.

 

Leasing of a Dodge Car

 

When you lease a Dodge model, you will be using it for a specific period while paying a portion of the car's value to the dealership every month.

 

Advantages:

 

    1. Leasing is a much cheaper alternative to buying a car. There's no substantial one-time payment associated with such a rental.

    2. After you are done using a vehicle, you may give it back to the dealership. So you won't have to find somebody to sell to or come up with resale value.

    3. If you like to experiment with different models, leasing is a rather beneficial option.

    4. Since it's so cheap, leasing also enables you to drive a better model than one you could afford when buying.

 

Limitations:

 

    1. There are limits attached when it comes to mileage and wear and tear. If you cross these limits, you might be asked to pay extra.

    2. Since you do not have any ownership rights, you cannot design the car to your liking.

 

Buying a Car

 

When you choose to buy a car, you are paying the entire cost upfront. You can do this as a one-time payment or on an installment basis.

 

Advantages:

 

    1. You gain ownership rights.

    2. No limitations associated with wear and tear.

    3. You can design the car to your heart's content to make it uniquely yours.

    4. The car bears a resale value, so you get some of your money back.

 

Limitations:

 

    1. The more expensive option.

    2. You will have to find a buyer on your own, which can be a tiring process.


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