Buying vs Leasing in Walnut Creek, CA

Major differences between buying and leasing a vehicle

Primarily, the whole idea behind choosing whether to buy or lease a vehicle depends on your financial budget. If you can afford to pay a lump sum amount of money upfront or go for a financial package (auto-loan) with your credit eligibility, then buying a car is the right option. On the other hand, if you would like to use the asset i.e., your vehicle over a fixed period of time by paying a fixed amount of lease rentals periodically, then leasing is a better choice. While leasing a vehicle, at the end of your lease term, you would have to return the vehicle to the owner and the lessee has no right to sell or transfer the asset to a third party. When you buy a vehicle, you have a sole right to the vehicle (after the entire settlement is made) and it will be in your name. You could also enjoy the residual value of your vehicle when you buy a car, but this does not apply when you lease a car.