Read full article at millennialmoderator.com.

Owning

If you’re a car enthusiast, this is a no-brainer. Owning a car means you can modify the car, do all your own repairs and heck, you can paint the whole thing bright pink and add a massive air scoop if you want.

  • You have no contractual penalties for wrecking, aside from not having a car.
  • You get to keep the car forever.
  • If you buy used, the vehicle often comes with no warranty.
  • Your repairs could eventually cost more than the vehicle was originally purchased for.

Leasing

If you’re not a car enthusiast and just need something to get you to/from work, leasing could be the right solution. When you lease, you pay a monthly rate to have the car (plus your own insurance) and all the maintenance comes included by the dealership. You don’t have to worry about depreciation, but there might be some penalties if you get in a wreck.

  • Your maintenance check ups are provided by the dealership.
  • You can always drive the newest, greatest car.
  • You have little to no options for customization.
  • You are bound to contractual agreements, which include monthly payments.

My name is Aleksey (Aleks) Weyman. I’m a business owner and independent contractor with six years of hands-on experience in several industries.

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