Buy Car vs Rent Car, the age-old question asked from time immemorial!
A lot of factors influence whether it’s cheaper to buy or rent a car. Let’s weigh the pros and cons, and perhaps give you a better insight to make the informed decision for your car driving future.
Since buying a car is one of the biggest purchases you can make, it’s wise to take a look at all your options.
LIST OF CONSIDERATIONS
Your monthly cash flow
Renting a car often has a lower monthly payment compared to financing a car with the same loan terms. If you only have a small down payment saved up, renting may be a good option. Car rents require anywhere from zero to several thousand dollars up front
How long you plan on keeping the car
This is a big consideration, of course, since if you really only want to drive the car for a day or two, renting the most convenient option!
Do you want to always have the latest auto tech? It is well-known that renting can allow buyers to acquire a more expensive vehicle than they might otherwise be able to afford, in which renting may seem more favorable. If you enjoy having the newest high-tech and safety features, Renting could also be the better choice for you.
In the end, your decision will come down to your budget and your driving needs, but we’d almost always recommend renting over buying. Good luck with your decision!
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