Choosing between leasing or buying your next car with the help of a car loan is a huge choice… And the answer is not the same for everyone: it all depends on your personal situation.

Let us dive in and uncover the advantages of both!

Monthly Payments

 Buying: Loan payments tend to be high compared to leasing payments because you owe the full purchase price of the vehicle along with interest and other fees, taxes and charges.

 Leasing: Payments on a lease are usually lower than on a loan because you simply pay for the depreciation of the vehicle over the term of the lease, plus interest charges (called lease fees), taxes and fees.

Ownership

 Buying: You have full ownership of the vehicle and may keep it for as long as you wish. However, you need to understand that your car will lose its value, but its cash value is yours to use as you desire.

 Leasing: You only become the owner of the vehicle at the end of the lease. This is why leasing is more suitable for business owners, who can deduct the expense, or for people who simply cannot afford to pay for their car.

 In conclusion?

Both leasing and car loans facilities are easily available in Mauritius. It all depends on your financial situation, as well as your future acquisition. 

While the duration of the lease period varies from 36 to 84 months depending on the leasing company, buying your car after being granted a loan does not have to be a long journey. 

Ready for your future purchase? Check out available cars on our website!