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Is it better to rent a car or own a new car for my personal daily use?

+5 votes
2 views

Taking bus to work and back home had been a cost saving strategy for me all these years but since i am in a much better position in my financial life, i finally decided to get myself a car to drive. I wouldn't have to line up at the bus stop waiting for the bus in the cold weather in the winter or hot weather in the summer. But i am going to miss the chance to meet other great people in the bus, believe me you do meet some great people in the public transit bus, although sometimes you do meet some crazy bastards or drunks, who could spoil your day in a flash. Whenever i see some stupid people bothering the bus driver or giving them problems i just feel like using a taser and knocking those idiots out cold. lol .

Public Transit Bus

asked in Moncton by Elbert Pickle (145 points)

1 Answer

0 votes

leasing a new car and owning a new car both have advantages and disadvantages. It all comes to personal preferences and choices and circumstances such as your income and allowance. When you lease a car, it is much cheaper initially to do so but in the long run, you will continue to pay for it never ending unless you stop driving. That is one bad reason to lease a car but then one good thing is that every time after the end of your car lease, you can ask for another new car to lease which the car dealer would be glad to give it to you. Car dealership loves people leasing their cars because they won't be losing the car and they will be getting it back after the lease period has expired. They might offer you to buy up the car you just finished leasing but if you don't want to buy it, then the car dealership will sell it as a used car in their used car department sales. During the terms of car leasing, you are still responsible for maintaining the car services such as regular oil changes and brakes pads but at the end of the lease term, you can give it back to the dealership without worrying about the depreciated value of the car at the time of returning the car. Some of the car problem usually would be covered under the manufacturer warranty for the lease period.

Owning a car will be expensive initially but after you finished paying for the new car at the end of the term period, it becomes your very own car. You will need not pay any more monthly payments to the car dealership. Your car will be worth much less than its original value at the end of the term period and you are fully responsible for complete maintenance of your own car. If you take care of your car properly, it can be very rewarding to own a car instead of leasing one, even though cars depreciates in value over time.

Cars

answered by Feng Kang (150 points)

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