Car Leasing Secret: Car Leasing on a tight budget?
It may be quite tempting to venture into leasing when your credit card stays unused and you're itching to drive a new car. Knowing that car leasing offers low monthly payments and that car repairs are not an immediate concern, the best thing to do before going up to your nearest car dealer is to contemplate, first and foremost. Think first before allowing yourself to get tied up for two to three years of credit obligation.
When you're buried neck-deep in debts, car leasing may sound too good to pass out, especially if the new 2009 Chevy is out in the market. Just think about it, you won't be expending sizable amount- so car leasing is certainly a viable and easy option. Well, if that's the only reason you'd go into car leasing - think again. Try to think ahead of your financial situation; once you start leasing a car, at the end of the contract, you would have to lease another car or buy out your current leased car. This means you would be a slave to your car dealership for your monthly payments for another three to five years.
So if you have a hefty amount for savings, try to pay all your debt s first and instead settle for a used car. Car leasing is good for those who were able to save up for the rainy days and there’s still some income coming in from another source. With that being said, buying a used car may be a good option instead of leasing. Although the car is not totally bright and shiny, you'll actually be owning the car and there won't be monthly payments to haunt you for years to come. There are also good price packages for a used car also. However if you won't see yourself using the same car after three years and you only have a measly bank account, used car leasing can be another option. It is still, in all essence, car leasing but at a much much lower price.
There are several auto financing option. Do a bit of research and find that one financing option that suits your immediate and near future needs. Otherwise, you can look for other alternative ways to increase your purchasing power.