Rent or buy a car ? Advantages and disadvantages

For a fairly peaceful daily life, the idea of having a means of transport at his disposal is to be realized as a priority. To do this, you have the choice between buying a vehicle or renting a car. Both offer some advantages, but also disadvantages. So what would be the best initiative?

Renting a vehicle

Whether you are an individual or a company, car rental is accessible to everyone. This is, moreover, the first advantage it offers. But even then, the tenant has the choice between a long-term rental, which can last between 12 and 72 months, otherwise known as a leasing; or to rent occasionally. With this last option, it is possible to change vehicles at any time. And what's more, you don't have to have a huge budget to enjoy a new or even a new car when renting. But the most convincing thing is the possibility of investing in other projects in parallel, since the monthly payments are not very high. Moreover, renting is not only positive. Not to mention the limited mileage and the high cost of insurance, it is impossible to terminate the contract and when it expires, the lessee is obliged to restore the car to its primary condition.

Buying a car

Buying a car gives you legal rights as an owner. This means freedom to drive unlimited kilometres, the possibility of renovating the vehicle as you wish and, above all, the possibility of renting or selling it at any time. On the other hand, buying a vehicle requires a rather exorbitant amount of money. As a result, you may not be able to complete other projects at the same time. It is also the owner's responsibility to maintain the car properly, which requires a special budget. And in the event that the car is put up for sale, it is the owner who will be required to take all the necessary steps and procedures in paperwork.

Leasing with a purchase option

If leasing and buying a direct vehicle is not suitable for you, why not opt for the LOA? The latter consists in renting a vehicle with the possibility of acquiring it at the end of the contract. Why would it be advantageous? Quite simply because as the rental period progresses, the car is depreciated. This allows you to buy it at a very attractive car price. In addition, it makes it clear that you will have to pay more than you would in a direct purchase if you did not.
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