The whole idea of renting a car might seem great and very resourceful in the start, but a keen look into the idea will prove to you that the idea is not really as fun and cost effective as it was at first. This might not be easy to believe, but with the facts below, you will come into conclusion that buying your own car is actually the better option in the long run. The disadvantages include the following;
Accumulatively expensive in the long run
When you lease a car the basic idea is that you are paying for the car’s use for over a period of 2-3 years. This is obviously hectic with the issue of having to pay monthly rates for the use of the car to the agency. In the long run the leasing thing is not as cost effective as it would have been if you had bought your own car. This is due to the fact that with time, driving your own car is cheaper as after the loans are done, you don’t have to worry about any monthly payments from then on.
All rental cars come with an annoying mile limit that is mandatory for all drivers that lease the cars. The mile limits usually vary between 10000 to 15000 miles. This can be very problematic for those of us that travel a lot in a year. This is not to mention the heavy fines that come with it. Therefore, you will need to get your own car and pay off the loans slowly or be inconveniently confined.
High insurance cost
For most people renting cars, the idea of the car being insured can be a relief, but with time the premiums that come with the insurance policy can be very difficult to keep up with. This is due to the fact that most insurance agencies will require you to actually spend a lot in the insurance than it would have been the case for a personally owned car. For instance, you will find that an Audi R8 car rental will definitely cost more than a personally owned Audi R8. Therefore, before you go for any Audi R8 car rental, or any other model for that matter, take into consideration the long term effect of the insurance policy on your finances.
Unfair costs of ignorance
The actual way in which leasing staff make their money from the services they provide to you might not be open for all to know, but you can do your research and find out just how they get their commissions. This will help you know when to say no as in most cases you might be led into paying for so many fees that are not actually necessary.