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Car leasing vs. Car buying

Todays Date: October 17, 2018

There are many things to consider while opting for a new car. One of the biggest challenges being a car buyer in Australia is to decide whether to go for a car lease or to buy a car via car brokers. There are many agencies that provide car buying service as well.

There are basically many significant differences between car leasing and car buying. Listed below are a few of those.

  • At the end of a car-lease, you return the car to the agency whereas if you are the car buyer you will own it.
  • If you opt for a loan, it usually is for five to six years whereas a lease term is lesser than that, two to four years.
  • Payment for loans is higher than the car lease payment.
  • Car lease normally comes with a limitation of amount of mileage you can use; you will have to negotiate a higher mileage limit if you plan on traveling a great deal. If you go beyond the limit, you will be charged 10 to 15 cents extra whereas if you own a car this is not an issue.
  • Amount of wear you can cause to a vehicle is limited if you go for car lease. You might have to pay extra if you cause excessive wear. If you are a car buyer, you don’t have to worry about this.
  • Terminating a car lease before the expiry causes you to pay a bit extra, same is the case in case for car buyers as well if you have opted for car loan, you usually have to pay a fee.
  • Upfront cost for car leasing is lesser than that of car buying.

Before deciding on whether to go for a car lease or to buy your own car, please keep the above points in mind. If you are an Australian resident and want to know more about car buying, car buyers or car lease, please visit Private Fleet. It’s one of the renowned car buying service providers in Australia and could prove very handy in your decision making.

John Smith is an expert who writes on car leasing for so many years. For more information about car buying service and car lease calculator please visit – www.privatefleet.com.au

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