Do You Want To Lease Or Buy From Santa Ana Car Dealers?

To lease or buy, that's the burning question for many Santa Ana residents. If you’re about to head to the car dealers, then you should take some time to ponder your situation, because this is not a decision to be made lightly. Here are the areas on which you most want to focus as you decide the best move for your automotive needs.


 


A Car Lease: The Fling of the Automotive World


When you lease a car, you’ll have it for 2-3 years, and that might be the perfect thing for those who are commitment-phobic. Keep in mind, though, that because you leased a vehicle that does not mean that you must give it back at the end of the designated time. You usually have the option to buy it at that point, so maybe if you’ve grown attached to it, you can go ahead and put the rest of the money down at that juncture.


What About Buying?


If you opt to buy right off the bat rather than lease, then you should feel very strongly that this make and model of car are going to appeal to you for many years to come. It’s true that you can buy a car from the Santa Ana dealers, whether new or used, and then sell it or trade it in if you grow tired of it or it no longer fits your needs. However, when most people buy they expect to have that car for quite a few years, so you should be aware of what your plan is for the next phase or couple of phases in your life.


For instance, maybe you’re buying a car and you and your significant other plan on having children soon. That sporty two-seater might not turn out to be the best choice when you need to install a car seat. Maybe you’re about to start breeding Irish Wolfhounds. A vehicle big enough to accommodate their oversized bodies should be in order.


Repairs


You should also take the issue of repairs under consideration. If you lease a car then in many respects it is the same as renting one. If you got a warranty with your lease (as indeed you should), then it will cost you nothing, or very little, to get it repaired. That’s not going to be the case if you buy.


You may very well get a warranty when you buy a vehicle, Santa Ana residents, but it’s going to run out eventually, and then you’ll be on the hook for any replacements, necessary alterations, tune-ups, etc. Take this into account as you make your decision.


What About Your Monthly Cash Flow?


This is probably the biggest determining factor in whether you’re going to end up buying or leasing a vehicle. If you lease, then the monthly payment is likely to be significantly less than if you buy. That’s why many people opt for a lease: it’s a temporary solution to their transportation needs, but it will cost them less per month than the more permanent buying option.


Of course, on the other hand, if you put more money down when you buy a vehicle, then your monthly payments will probably be the equivalent of if you were only leasing. Because of this, buying becomes a more attractive option if you have a chunk of money that you can put down right there at the dealership.


You can even buy the car outright if you have the money, which means that there will be no monthly payments, other than insurance. However, not many people have the money to buy a car all at once, even if it’s a used one. Still, if you receive a windfall like an inheritance, a large tax refund, or something along those lines, a vehicle is a great investment.


If you buy a car outright, then you don’t have to worry about those monthly payments, which is undoubtedly going to be a load off your mind. You can even avoid monthly insurance costs if you want to by paying your insurance in six-month increments. It all depends on what arrangement makes you the most comfortable.


How Much Will You Be Driving?


You’ll also want to consider exactly how much you’re going to be on the road. Be aware of your commute, and think about where you’re inclined to go on the weekends or during your leisure time. The reason this matters is that with a lease you’re allotted a certain amount of miles, and you’ll be penalized if you exceed it. Those penalties can be severe. If you get 36 thousand miles over three years and you go over that, you could get slapped with a fee of 25-30 cents for every mile that you go over that limit. That adds up pretty quickly, as you can imagine.


If you’re set on leasing a vehicle from the car dealers in Santa Ana, then you should try to negotiate lease terms that are in line with how much you imagine you will be driving. It’s impossible to be able to predict with total accuracy how many miles you’re going to rack up over three years, but you can take a stab at it. If the lease you are being offered is not in line with your projected numbers, you might want to reconsider buying as a possibility.   


There are appealing aspects to both buying and leasing vehicles. Neither one is superior to the other; it’s more a question of your situation and what’s happening in your life. You’ll need to take into account your finances, your familial and work situations, and more.


You can figure out which works for you if you puzzle it out logically. Time will tell whether you made the right choice, but in the meantime, your transportation problems will be taken care of, and that is presumably your most pressing concern.


Categories: Info Article