Uber might be trending now, but renting your own luxury car is way more cool.
In these days where the environment is more important than ever before, and where people are entirely focused on their finances and comfort, the idea of renting a car seems pretty reasonable.
However, something reasonable doesn’t mean achievable or at the very least affordable, so people would consider buying a car instead.
What do you think? Is renting better than buying? Let’s find out.
Renting VS Buying: what’s your choice?
As we mentioned before, people are becoming aware and smarter about their lifestyle choices, and it’s demonstrated in the way that rented cars businesses are growing in popularity and recognition.
Some may say that renting a car is more affordable, and these are a couple of reasons to back up this idea:
- Financing problems
If you have a bad credit history, banks will be extremely difficult to get your credits approved to buy a new car (if you wish to buy one).
When renting, the reality is completely different. Long-term renting contracts are a viable alternative for consumers who have been declined by bank institutions.
We all know that owning a car means upkeep and maintenance: tyres, services, insurance; all of this is just the beginning of a monthly pay rate.
When you realize the amount of money per month that’s only to maintain your car’s integrity, you might even want to step down the idea of buying it anyway.
Pros & Cons of buying or renting a car
Since this is a complex decision to make, we have prepared a set of reasons to help you make the best decision for you.
Pros & Cons of buying a car
Now, if you’re still longing to buy your own car for your own reasons, these are some of the pros & cons to buying it.
- It’s customizable
- You can sell it or trade it in the future for upgrades
- No monthly mileage limits
- Monthly payments are often higher
- You might have to ask a loan to pay it
- The car depreciates in value
- The responsibility for repair costs are on you
Pros & Cons of renting a car
- Monthly costs are often lower than a traditional loan payment
- Responsibility for repairs needed on your car is not usually yours
- You can rent any type or model of car
- You don’t have to sell the car if you want to upgrade it, just rent another
- There are monthly or yearly mileage limits for rented cars
- It’s difficult to get out of a lease contract early
- If you don’t take care of maintenance, make a late payment or go over your mileage limit, fees and penalties are made
- You won’t be able to sale the car when your contract is finished
The decision depends on you and your needs and wishes. Renting a car is far more valuable today than ever before. Just on special occasions, renting a Lambhorgini doesn’t seem like a bad idea, isn’t it?