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Customers planning to buy a car on loan or lease are struggling to come to the right conclusion as there is a section of experts advising the customer to go for leasing. These experts say the monthly cost of lease payment is usually lower than the monthly loan interest repayment cost. But one has to look a little bit deeper into the issue and analyze the two options. Whether one is leasing or opting for a loan, customers are usually spending more for buying a car than they would usually do when making a cash purchase.
When buying a car using outright cash, customers would usually avoid unwanted accessories to be added as part of their cars as they spend a large amount from their bank account for making the payment. This make them restrict the amount of cash they spend on buying the car as they want to restrict the money outflow from their banking account. But when customers opt for leasing or a traditional loan, they are not worried about the outflow of cash as the money comes from a different source. This makes the customers to spend more on accessories that might not be required in the first instance.
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