Modern Australian Magazine

The Pros and Cons of Leasing A Car - Should You Do It?

  • Written by News Company


The majority of drivers will buy a vehicle with a conventional car loan. After all, the process is pretty simple – you borrow money from a lender and pay every month for a few years. Part of the payment is principal, and the rest is interest. Your level of equity is built over time until – presto! - the car is yours to do with what you want!

But another option which has become mainstream now is to lease the car. But what are the pros and cons of leasing a car exactly? Keep reading this article written by Metro Car Removal Sydney to find out all the pros and cons of leasing a car.

The Pros of Leasing a Car

At first glance, leasing has many advantages that can make it seem much more appealing than buying a car. They’re great for those who don’t want to commit to long-term financial plans and when you’re done you don’t have to go through the hassle of selling or trading your car because you don’t own it.

Some of the Pros of Leasing a Car include:

  • *  You drive the car while It is trouble-free and in good condition

  • *  You drive a late-model vehicle that looks good and which is usually covered by manufacturer warranty. This may include free oil changes and other scheduled maintenance.

  • *  You don’t have to worry about the car’s trade-in or market value changing

  • *  You don’t have to go through the hassle of selling it when you’re done

  • *  For business owners there can be notable tax advantages of leasing a car

  • *  When you’re finished with it you just drop it off at the car dealer

  • *  The car could be a more expensive model than you can afford to buy


The Cons of Leasing a Car

Like we mentioned before – Leasing a Car also comes with its cons. The most obvious is that you never get the pleasure of actually owning the vehicle.

Some of the Cons of Leasing a Car Include:

  • *  Typically, leasing will cost more than an equivalent loan due to driving a depreciating asset

  • *  Lease contracts specify a limited distance you can drive. Going over this limit will cause penalties to incur.

  • *  There is a lot more pressure to maintain your vehicle in good condition. Not doing so will mean penalties for excess wear and tear and you drop the car off.

  • *  You typically need to bring the car back just as it was when it left the showroom

  • *  You can be stuck with high termination fees if you want to end your lease early

  • *  You get less value out of your vehicle in the long term compared to buying a car: The longer you own a vehicle after its paid of the more value you get out of it.

As you can see, there are many pros and cons of leasing a car and we’ve only mentioned just a few of them here. Whether buying or leasing a car, it is a big decision. Do your research before deciding which option is best for you.

Australia Today

what exactly does a showrunner do?

Darren Paul Fisher, Head of Directing, Department of Film, Screen and Creative Media, Bond University

Donald Glover is the showrunner on Atlanta, 'perhaps the most curious credit in the history of the small screen'. imdb/FX NetworksWhat do J.J. Abrams, Phoebe Waller-Bridge, Shonda Rhimes, David Lynch, Aaron Sorkin, Donald Glover, Jenji Kohan, Jordan Peele, Tina Fey, and Joss Whedon have in common? T...

why memorising poetry still matters for human connection

Veronica Alfano, Research Fellow, Australian Catholic University

Committing poetry to memory is so much more than a rote exercise.Taylor Ann Wright/UnsplashMemorising poetry was once common in classrooms. But it has, for the most part, gone out of style. There are good reasons for this. Memorisation can clash with creativity and analytical thought. Rote learning ...

Surge in pre-poll numbers at 2019 federal election changes the relationship between voters and parties

Stephen Mills, Hon Senior Lecturer, School of Social and Political Sciences, University of Sydney

Another issue is that pre-polling gives an advantage to the major parties over the smaller ones, due to the latter having fewer resources.AAP/Bianca de MarchiOn the morning of the last Monday in April, 2019, federal election officials opened the doors of more than 500 pre-poll voting centres around ...

How many people have eating disorders? We don't really know, and that's a worry

Laura Hart, Senior Research Fellow, University of Melbourne

Eating disorders disproportionately affect females and young people.From shutterstock.comLast week, federal health minister Greg Hunt announced that more than 60,000 Australians will be asked about their mental health and well-being as part of the Intergenerational Health and Mental Health Study.The...

keep in mind the 'bacon and eggs' principle

Michelle Grattan, Professorial Fellow, University of Canberra

Morrison describes the “the bacon and eggs principle" where "the chicken is involved, but the pig is committed".AAP/Shutterstock/The ConversationScott Morrison has a sharp lecture for bureaucrats about their KPIs, in a comprehensive speech laying down how he expects the Australian Public Servi...

Holidays & Travel

Go on vacation without letting yourself go

Going on a holiday is great, especially when you deserve a vacation. But there are two things that are annoying to deal with when you come home: the fact that...

What to Do When Traveling From Australia to USA

Planning a trip to USA with your friends for the first time? Well, then you have miraculously landed at the right page. We have done all the homework to prepare...

5 Top Offbeat Things to do in Hong Kong

Hong Kong sure has some quirky attractions hidden up its sleeve. And if you are looking for some unusual sights and unique fun activities to experience, you won’t be disappointed...

Exploring Whakatane NZ

One of the most exciting road trips travelers can embark on is a motorhome hire new zealand journey. This unique and exciting country has it all when it comes to...

Important Considerations When Choosing Broome Accommodation

Broome is a fantastic place for visitors of all ages. Whether you want to lounge on the golden sands of Cable beach or take the kids to learn something new...

A tour guide to Melbourne

Welcome to the second most populous city in Australia with its beautiful sites and amazing scenery. Melbourne has been identified in so many spheres as one of the most livable...

Top 5 Places to Visit in Australia

The sheer, breathtaking expanse of the Australian continent is a thing of beauty. The vast landmass is actually packed with awe-inspiring landmarks to see and countless blood-pumping activities to partake...

Adhari Park: Why is it one of the must-visit sites in Bahrain?

Despite its small area that does not exceed the 1,000 square kilometers mark, the Kingdom of Bahrain is known for being rich of touristic sites and attractions. Bahrain comprises destinations...

Exciting Off Road Adventures In Western Australia

Western Australia has long been a top destination for off roading enthusiasts from all across the world. One look at some of the top off road destinations on offer in...

Fashion & Beauty

How to Dress for Work: Chic 9-5 Style

Do you want to look professional and put-together yet stay true to your personal style? Is it even possible to make your work outfits look chic and interesting and not...

What Men Like in Women’s Fashion

Men are great admirers of women’s fashion. When a woman walks down the street while wearing an attractive piece of clothing, men are always going to notice it. Of course...

5 ways to hydrate your hair and skin while you travel

Holidays are one of the most exciting and looked forward to times of the year, especially around the winter months where many people shoot off across the world to enjoy...

An All-in-one Guide to Buying Women’s Glasses

Getting your first pair of women’s glasses is pretty exciting; will you get retro cat eye frames or minimalist lightweight ones? Not only can specs improve your vision and potentially...

Should you get a hair transplant in Turkey if your hair is grey?

The color of hair is a result of the pigment melanin which is made by special cells called melanocytes. The production of the pigment is largely genetically determined so you...

Marvelous Makeover - 5 Tips to Revitalize Your Look This Summer

The winter months can wreak havoc on your health and wellbeing. Your skin can dry out, your hair darkens and can go oily, and even your body changes as you...

Popular articles from Modern Australian

Splurge or Save: Our tips on what to Spend the Big Money on for your Wedding5 ways to make sure you have a good camping tripMouth Ulcer Treatment – The Easiest It Can GetLaser Treatment For Skin Tag RemovalThe Importance of Mental Health During PregnancyFavourite Pastimes for SeniorsHow to Dress for Work: Chic 9-5 StyleFind out how reading Funeral Poems can bring comfort to your griefWhat Men Like in Women’s FashionDocument you need for a divorce7 Steps Complete Guide to Sustainable Lifestyle5 ways to hydrate your hair and skin while you travelGreat Ways to Stay Fit When You are BusyThe Pros and Cons of Leasing A Car - Should You Do It?Deliveroo announces reusable packaging partnership with Returnr in world-first scheme