Leasing vs purchasing a car each have pros and cons to consider. With leasing, you pay lower monthly payments but never own the car, have mileage restrictions, and may pay fees for excess wear and tear. Purchasing requires a larger upfront cost but you own the car long-term, can modify it as desired, and may benefit from tax deductions. The best option depends on individual needs - leasing works well if keeping the car short-term while purchasing is better for long-term ownership. Consider your budget and research both options to determine the best choice.

1. Leasing vs Purchasing: Which
One Should You Choose For A
Car?

2. Introduction
If you're trying to decide between Leasing vs Purchasing a Car, there are pros and
cons for both options. Here we will outline a few of the key differences so you can
make an informed decision.

3. Leasing A Car

4. Leasing A Car
Leasing a car can be a great option for individuals or businesses who want to
drive a new car without the big price tag. When you lease a car, you're only
responsible for monthly payments for the term of the lease.
You don't have to worry about selling the car or trading it in when you're ready for
a new one. And since leases are often short-term, you can upgrade to a new car
every few years.

5. Pros and Cons

6. Pros
1. You can drive a new car every few years.
2. Leasing payments are often lower than loan payments for purchasing a car.
3. Maintenance and repairs and even fuel may be included in the price of the lease
4. If you are a new business that doesn't qualify for a secured loan, you may qualify for a
lease

7. Cons
1. You never own the car outright, so you never have the option to sell it or trade it in.
2. As you don't own the vehicle, there will be limitations on the use and modification you can
make to it. For example, you might not be able to take it on rough terrain or add a bull bar.
3. You may be charged fees for excessive wear and tear on the vehicle at the end of your
lease term.
4. If you go over the agreed-upon mileage limit, you may be charged extra fees.

8. Purchasing A Car

9. Purchasing A Car
Purchasing a car gives you obvious advantages including the freedom to keep the
car as long as you want and make any modifications you please. But it also
requires a larger upfront capital investment and monthly payments that are usually
higher than lease payments.

10. Pros and Cons

11. Pros
1. You own the car outright, so you can keep it for as long as you want or sell/trade it in when you're ready
for a new one.
2. You have no mileage restrictions and can use the car however you please without fear of being charged
extra fees.
3. You can modify the car however you see fit without having to worry about breaking any rules or
agreements.
4. There may be tax advantages including the government's current tax depreciation incentives.

12. Cons
1. Purchase of a vehicle will require a large capital investment
2. Maintenance and repair costs are your responsibility.
3. The value of your car will depreciate over time.

13. Which One Is Right For You?
This really depends on your individual needs and preferences. First, you should consider
how long you plan on keeping the car. If you only need it for a short time, leasing may be the
better option since you can trade it in for a new one after a few years. However, if you want
to keep the car for a longer period, purchasing may be the better choice since you'll
eventually own it outright.

14. Conclusion - Consider Your Budget!
Consider your budget and how much you're willing to spend each month. Lease payments
are typically lower than loan payments, but you may be charged extra fees for things like
excessive wear and tear or going over your mileage limit. Ultimately, the best option for you
will depend on your individual needs and preferences. So, be sure to do your research
ahead of time to make the best decision for your situation.

15. About Us
A Finance Brokers Victoria, we pride ourselves on our ability to look at the big picture; we
not only look at our customers immediate goals but we help set them up for life.
As a trusted subsidiary of Finance Brokers Tasmania Pty Ltd, we are well respected in our
industry and our expertise, knowledge and foresight is what our customers love and respect
us for.
Having been in business for over 36 years, we have learnt a thing or two about the industry
and we are committed to improving not only the lives of our customers but their businesses
too.

16. Contact Us!
Call Us
0482 078 000
Email Us
gary@fbvic.com.au

17. THANK YOU!