Renting a car is cheaper than buying one – If it depreciates, lease it!

The choice between renting and buying a car is often a tough decision. On one hand, buying a car requires higher costs but you own something in the end. Read on and know why it’s cheaper to rent a car.

Image by wilkernet  via Pixabay

Value falling with time
When it comes to renting a car, it often has a lower monthly payment than the cost of buying a car with the same loan terms. This is primarily due to the fact that the biggest cost of owning a car will be depreciation. With the passage of time, the value of your car along with its financial cost will fall down.

Risk of repair bills
Once you rent a car for an agreed period of time which is known as ‘personal leasing’, you can drive a car for a fixed monthly cost. If you’re in Sri Lanka and have thought of spending some time in the country, you’ll come across plenty of car rental services. Many like Casons Rent a Car Sri Lanka are flexible, offering a variety of vehicles to choose from, even for a self-drive tour. Such services also offer some great travel advice. Sri Lanka adventures are thus not only made more cost-effective but are rewarding too.

A new car with the latest features
This is regarded as a good side of renting a car. If you are craving for the upgraded model of your favourite car, leasing might be a better choice since you can keep that car for a certain period and switch to a new one.

Less commitment
Renting a car will make great sense if you need a car for a defined period of time. It can help you bridge the time period until you buy the next car.

 

Auburn Silver is a travel writer who has a passion for fashion and a deep interest in admiring new and exotic attractions around the world. Google+