Leasing, buying or financing how to drive best.

Leasing, buying or financing how to drive best.

On the car market, there is a suitable model for every need and every taste, so a lot of time can be spent finding the suitable new car. If the dream car was discovered, the question arises: How do I pay for the car?? Is the financial cushion sufficient to pay the full purchase price immediately and what advantages do I have?? In addition to the cash payment, which has become the exception when buying a car today, there are the alternatives financing and leasing to choose from.

Cash purchase: It is yours immediately

With a cash payment, a larger amount of money can be raised in one go. Although cash payment offers a comparatively high discount, it reduces your liquidity. So if unexpectedly a larger payment is due, the savings for this is missing. Of course, paying cash for a new car also has many advantages. You immediately get the ownership rights to the vehicle. This means that the buyer can do what he or she wants with it: rebuild it, paint it or even resell it. Furthermore there are no ongoing financing costs with a cash purchase. The vehicle is paid off from the beginning.

Leasing: Paying in installments

With this method no starting capital is needed, because the vehicle is not acquired, in this case you are only the owner. This has advantages: Only the lessor bears the full risk of loss of value. At the end of the term, you simply return the car to the lessor. To the monthly rate also maintenance costs have an influence on the total bill. Taxes and insurances are part of it as well as the expenses for fuel and wear parts. Also repairs as well as MFK fees must be considered with a cost statement. Leasing is particularly worthwhile for all those who would like to drive a new car regularly or who cannot afford a new car at the moment. With a loan you can buy a car. Become the sole owner. The interest costs can be deducted from your taxable income. The bank usually charges a higher interest rate than for a lease to cover the risk. Who finances its vehicle with a credit, should plan in any case a reserve in the consumption budget and insure the vehicle with a favorable liability insurance and comprehensive insurance. Not to be underestimated: Monthly repayment obligations can lead to financial problems if unexpected events occur.

Car subscriptions: The new alternative

What you know from vacations is also becoming increasingly popular in everyday life: renting cars. Not only for a few days, but on a long-term rental basis. With car subscriptions, as with leasing, a certain mileage per month or year is agreed upon. Once apart from the starting fee, the subscriber of the car does not have to invest a larger sum or accept a loss in value. During the term of the lease, apart from the monthly installment, only the cost of gasoline is incurred. At the end of the term, the car is returned to the provider. Car subscriptions can be made digitally. The whole thing is similar to car sharing, except that these offers are not tied to a specific location and are geared to a longer period of time.

So it is better to lease, finance, buy or rent the vehicle? Weigh up how you want to use the car: Do you want to buy a new one regularly?

Would you like to drive the car for as long as possible or would you prefer to remain independent? That's what decides which offer is right for you.

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