Buying a Used Car is Always Better than Leasing – Here’s Why
Most Americans still lease cars instead of buying used cars sold by dealers. And a simple survey will reveal their reasons. Some will say that they lease to keep their monthly budget in check. Others will say that they like the feel of a new car every 2-3 years. But if you think really hard and put the numbers on paper, people who still lease are actually not walking away with anything. Their monthly budget still goes for a toss and the feeling of a new car is just a privilege that most Americans just cannot afford. Over the last decade, automobile prices have shot up exponentially but people’s income has remained stagnant. Buying used cars or used trucks in Anderson, SC is always the better idea.
How much you pay for a lease?
Now, economical new cars do not go out for a lease. It is just not profitable for carmakers. So, you will always find some luxury vehicle on the lease lot with low monthly payments printed all over to attract you. Suppose you decide to lease a new Audi A6 Premium Plus. For a lease of 36 months, you will have to pay a down of around $5,700 and a monthly payment of $605. Compare this to financing the new A6 and you will see that you are making a savings of nearly $360 per month. Fancy deal, right?
What do you gain from the lease?
After paying $21,780 over 36 months and the $5,700 extra as down, you literally gain nothing but the experience of driving around in a new Audi A6. The automaker will take back the car and you can derive no equity value from the vehicle. So, the net $26,000+ that you paid has no return. It simply vanishes in thin air once the lease period is over. To get a new transport, you will have to lease again and probably burn that much money again.
What do you get in used car dealerships in Anderson, SC?
Now, say you want to drive an Audi A6 but instead of buying new or leasing, you are going for a used vehicle. The initial price will be 50% lower than the new car’s cost. That will bring down your monthly payments to under $500. And after 36 months, you will have ownership of the vehicle and extract at least $7,000 in resale value that serves as your return for making a smart investment.
And if you know your finances better, or have a bad credit score, you will know that luxury vehicles are not for you. You need a means of transport, something of quality and high reliability. Anderson auto dealers are again your answers where you can buy used cars at almost any price bracket and do not pay the hefty premiums of buying new or leasing. Think smart, buy used cars, own your vehicle, and get some return.
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