VPI Cars is Metro Manila Philippines’ highest-rated full service car rental platform. We offer short, long term rentals, chauffeured, corporate leasing, and many more!
When it comes to getting around, most people think of buying a car. But what if you could lease a car instead? Leasing can be a great option for some people, but is it better than buying a car?
A car lease is a contract that allows you to use a car for a set period, usually two to four years. But, there are also short-term car leases that you can do, but they can be more expensive. Besides regular car leasing, there are also business car rental programs which can be a perfect option for companies with big sales teams.
When it comes to paying for the car lease, the payments you make on the car are usually lower than if you were to finance the same car. And depending on the car leasing company, you will most likely have to put down a security deposit when you sign the lease.
At the end of your lease, you will need to return the car to the dealership. You may be able to purchase the car at this point if you wish, or you can simply return the keys and walk away.
Leasing a car has its pros and cons. But as far as we know, leasing a car far outweighs the cons especially if you need a car, and you’re trying to save on money. If you’re still undecided whether or not leasing a car is for you, here are the advantages of leasing a car versus buying a car.
When you lease a car in the Philippines, you’re also paying Value Added Tax(VAT) every month. This can save you quite a bit of money since you can use receipts to reduce your tax payments.
If you haven’t owned a car before, then maintenance can be very expensive especially if the car you own is casa maintained. From regular oil changes to tire rotations, these can all quickly add up. Not to mention, if some of the car parts start breaking down, then it will cost you a lot just to repair or replace these parts. When you lease a car, car maintenance is usually handled by the company you are leasing it from.
When you’re looking to buy a car, you’re limited to the cars that you can afford. But when you lease a car, you can choose from a wider selection of cars. You’re not limited by what you can afford since you’re only paying for the use of the car and not the entire purchase price.
If you’re looking to lease a car with the option of owning it later, then you can do what’s called a lease or rent to own. With this type of lease, you have the option of purchasing the car at the end of your lease. This can be a great option if you’re not sure if you want to purchase the car outright.
When you lease a car, there is no upfront payment required. This can be a great option for people who don’t have the money for a down payment on a car.
There are also some disadvantages of leasing a car that you should be aware of before you sign any leases. Here are a few to consider before leasing one.
One of the biggest disadvantages of leasing a car is the mileage restriction. Most leases come with a mileage restriction which can be around 10,000 kilometers per year, but this number can vary depending on the leasing company. If you go over this limit, then you will be charged a fee for every mile over the limit. This can quickly add up, and it can end up costing you more than what you would have paid if you had purchased the car outright.
Leasing a car can be more expensive than buying a car outright. This is because you’re only paying for the use of the car and not the entire purchase price. If you have money saved up at the bank, then leasing a car may not be the best option for you.
Now that you’re familiar with the pros and cons of leasing a car versus buying one. This brings us to the big question, is leasing a car better?
It depends! If you can’t secure a loan or don’t have enough money to buy a car, then leasing a car is the right one for you. Otherwise, buying your very own car will save you more money in the long run.
To conclude, car leasing has its pros and cons just like any other thing in life. Weigh your options and decide what’s best for you! If you’re interested in learning more about our car leasing deals at VPI Cars Manila, then you can visit our website for more information.
VPI Cars Manila (formerly CF Car Rental Manila), one of Metro Manila’s highest rated car rental services provider. Happily serving since 2014!
VPI Cars is Metro Manila Philippines’ highest-rated full service car rental platform. We offer short, long term rentals, chauffeured, corporate leasing, and many more!