BUYING VS. LEASING Essay Example | Topics and Well Written Essays - 500 words

Purchasing VS. Renting - Essay Example The vehicle that has been chosen for this conversation is 2015 Accord Sedan LX. Regardless of whether to purchase a vehicle through the strategy for credit financing or acquiring a vehicle based on rent is reliant on different reasons. One reason that help in concluding whether to purchase or rent a vehicle is reliant on to what extent does an individual needs to utilize and claim the vehicle. In the event that the individual needs to claim a vehicle for a shorter timeframe and targets changing the vehicle in a restricted timespan, at that point the individual ought to choose getting the vehicle on rent. On the off chance that the individual needs to save the vehicle for a more drawn out timeframe, at that point the individual ought to acquire it based on an advance. For instance, table 1 proposes that if an individual needs to keep the vehicle after the rent time frame is over the all out expense of acquiring the vehicle will be $26,712 and this cost will incorporate the remaining an incentive just as the rent installments that an individual will make for a lon g time for a 2015 Accord Sedan LX. Then again table 2 proposes that if the individual gets the vehicle based on an automobile credit, he needs to pay an aggregate sum of $25,596 and this sum will incorporate the 2.9% APR that an individual addresses on the Manufacturer’s recommended retail cost. This implies buying a 2015 Accord Sedan LX for the long haul based on credit is more affordable as it costs $1,126 less to get a vehicle based on an advance as opposed to acquiring it on rent premise. Then again if an individual choses to keep the 2015 Accord Sedan LX for a shorter timeframe then he/she ought to settle on the renting choice on the grounds that the individual will just need to pay $15,012 to appreciate the vehicle for a long time and afterward he/she can change to another vehicle. As I would see it, I would acquire 2015 Accord Sedan LX based on a rent as I accept that possessing a vehicle for a shorter timeframe is better than claiming it for a more extended timeframe. Since I need to save the vehicle for a shorter timeframe, I would want to pay just $15,012