Financial experts know that you should own appreciating assets, and lease depreciating assets. Cars are inherently depreciating since use causes wear and tear on components. Leasing provides:
- Limited liability for depreciation
- Stress-free ownership
- The newest, best-equipped vehicles
- Tax advantages for business owners
Leases typically come with warranties and clearly outlined maintenance agreements, meaning you receive coverage in the event of a breakdown.With lower monthly payments than ownership, you can afford to drive a better vehicle and avoid paying for it’s depreciation. You also avoid liability for long-term vehicle value caused by issues like accidents, since you’re walking away from the vehicle once your lease term is over.
Despite the financial benefits of leasing, ownership offers much greater freedom. Benefits of ownership include:
- No limitations on kilometers driven
- Full ability to customize your vehicle
- Building equity and trade-in value
- Building personal credit
- Spreading cost of ownership over an indefinite vehicle lifespan
- No leasing fees or return charges
If these benefits sound appealing, Go Auto Outlet provides customers access to dozens of lending institutions for vehicle financing. We also provide in-house lending catered to your vehicle financing needs.
If you already own a vehicle, you may benefit most from a trade-in deal. Private vehicle sales consume time and pose multiple risks. Rather than dealing with the hassle of finding a buyer, you can drive your vehicle to Go Auto Outlet and receive an on-the-spot trade-in appraisal from a trusted professional. Trading your vehicle can save you hundreds of dollars in taxes and hours of your own time.
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Paying cash is a great way to save money on your car payment by avoiding interest and financing fees. For example, if you finance a $20,000 vehicle at 5% for five years, you pay $2,648 just in interest. So save your pennies before purchasing a vehicle and earn the highest value possible by paying cash.