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BUYING your first car can be exciting and confusing at the same time. After all, there are so many options that you can choose from. Of course, you can choose between old and new vehicles. Then, there is a variety of petrol, diesel and electric vehicles.

Next, you should determine whether you are looking for manual or automatic. However, one of the most important things you need to keep in mind is your budget and what you can afford. Our short guide will help you to determine whether you should buy your first vehicle or explore the option of leasing.

The main differences between leasing and buying a car

It can be confusing to navigate around the transport market. When you decide to get your first car, there are two ways of going around it – buying or leasing the vehicle. “If car ownership isn’t your main goal, and you don’t want the hassle of selling the car on, leasing is the right option for you” say experts at caruno.co.uk.

If you buy the vehicle, you will own the vehicle completely and do not need to worry about any annual mileage restrictions. If you need to, most dealers allow you to apply for finance that would allow you to pay off the loan in monthly instalments. On the other hand, there is the option of leasing a car, in which case you just pay for depreciation in value. In that case, you might be able to lower your expenses.

If you need to hire a car you can do so with a debit card, follow the link find out more about debit card car rental.

Benefits you should know before buying a car

Before you decide to buy a vehicle, it is important that you learn all about its benefits and negatives. One of the most prominent advantages of buying a car is that you will be the owner of the vehicle. The vehicle will be yours, and you can do anything you want with it, even modify it to your liking. Additionally, you will not need to worry about any set mileage. So, you will be able to drive as much as you want and not worry about such restrictions. And finally, you can sell it when you are ready to get a new one.

Negatives to be wary of when you want to buy a car

While buying a vehicle has its benefits, you should also be aware of the negatives that come with such a purchase. First and foremost, your expenses will be higher than if you would only lease the vehicle. You will be liable and responsible for paying a road tax and the delivery of the car of your choice. Another negative might be that you might not be able to get a new vehicle as often as you would like. Finally, the upfront costs may be higher when you decide to proceed with the purchase.

Advantages of leasing a car

Leasing a car might not be as popular as buying it. In short, leasing is a long-term rental. Naturally, even that comes with its advantages. One of the most significant aspects that could sway you towards leasing is that you will be paying only monthly fees and the upfront costs are lower, too. On top of that, delivery and road tax costs are often included in the rental deal. Most leasing deals are between 24 and 36 months. Due to the length of the contract, you will be able to change to a new model when it ends and upgrade your travels

What to be aware of when leasing a vehicle

If you decide to lease a vehicle, you need to check the paperwork and terms of the deal, so that you know what you’re getting and understand any hidden costs involved. For example, if you have milage restrictions or rules about what to do in case you damage the vehicle, you need to understand them so that you don’t incur any extra expenditure. Read the documentation carefully, so that you understand what you are agreeing to and don’t make any potentially costly mistakes when leasing a car.

How to decide if you want to buy or lease the car

In the end, the decision comes to what you desire more. Before you make the final decision about whether you would like to purchase or lease the car, you should familiarise yourself with all the benefits and negatives of each option. However, there are other aspects we should mention before you proceed with the decision. Buying a vehicle is an ideal option for those who have a larger sum of money available. At the same time, you will be able to be the owner of the motor and act as you wish. On the other hand, leasing will offer you more options, and you will be able to upgrade your vehicle at the end of your contract.

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