Car Leasing vs Buying

Car lease is an innovative solution if you need a car for the short-term or wish to switch cars in 1-2 years. You will end up paying a lower monthly rent, and there is no hassle of maintenance and other expenses related to the vehicle.

But you should understand the disadvantages before opting for ‘Leasing’ Option

You will have to incur a penalty if you end the lease prematurely. A car can be leased for a minimum of 6 months to a maximum of 5 years.

At the end of the tenure, you don’t own the vehicle.

There is a mileage limitation for car leasing and exceeding the limit will result in additional fees for the month.

You will not be able to upgrade or modify the car in any way.