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Is It Better to Lease or Own a Vehicle?

Published

3 years ago

December 18, 2020

For some people, a vehicle is a personal asset that can help you get to and from work, take you to errands, and give you the personal freedom to explore new places. For others, a vehicle is even more important. They purchase a semi-truck or trailer, or other commercial vehicles to start a business and generate revenue.

When you seek to acquire a vehicle, you’ll need to decide whether you want to lease it or purchase it (and own it henceforth). But which is the superior option?

Leasing vs. Owning

In case you aren’t familiar, purchasing and leasing are two different ways to gain access to a vehicle. In purchasing, you’ll pay a set amount of money for a vehicle; from that point forward, you’ll own it outright. You may borrow money to come up with the full funds, but the vehicle will be yours—and you’ll have the authority to use it how you like.

Leasing is an option available primarily for people who can’t (or don’t want to) make purchases. You’ll sign a lease agreement with the owner of the vehicle, then pay a flat monthly fee to continue using it. There may be rules and regulations for how you use the vehicle, but the owner will take responsibility for routine maintenance and certain types of issues. Typically, leases are long-term agreements, lasting in intervals of years.

The Perks of Ownership

Buying and owning a vehicle can be highly advantageous:

Full ownership (and equity). Owning a vehicle allows you to build equity in it. If you take out a loan, your monthly payments will gradually pay off the principal you’ve borrowed. In other words, you’ll have a financial stake in the vehicle. This can add to your net worth over time (or right away if you purchase the vehicle in full).
Freedom and flexibility. Owning the vehicle also means you won’t have to obey the rules and stipulations set by a lease; you’ll have the full freedom and flexibility to do anything you want with it. You can customize the vehicle to your liking, drive it as many miles as you want, and use it for practically any purpose.
Less worry about wear and tear. In many lease agreements, the lessee will be responsible for taking care of many types of damage sustained to the vehicle, including basic wear and tear. If you own the vehicle, you won’t have to worry about it.
Resale potential. In the future, if you decide you no longer want the vehicle or if you’re ready for a new purchase, you can sell the vehicle or trade it in—but only if you own it. This can help you recapture some of the costs of the vehicle.

The Perks of Leasing

However, there are also some benefits to leasing:

Lower upfront costs. In a lease, you’ll usually have to pay something upfront—but the upfront costs of a lease are much lower. This is ideal if you’re dealing with limited cash.
Lower monthly costs. In general, the monthly costs of a lease are lower than the monthly costs of ownership (assuming you take out a loan). This is because you won’t deal with extra costs, like interest.
Fewer responsibilities. In a lease, you may not have to take responsibility for the vehicle’s ongoing maintenance; this care may be included in your agreement, as a responsibility of the owner.
Future flexibility (sometimes). Some types of lease agreements afford you flexibility. At the end of the lease, you can renew the lease for another term, end the lease, or even transition to ownership.

Priorities to Consider

Buying isn’t strictly better than leasing, and vice versa. So how can you decide which is best for you?

Ownership duration. Think about how long you’re going to own this vehicle. Is this a long-term or short-term investment?
Need for customizability. How much do you want to customize the vehicle to your liking?
Need for flexibility. How much flexibility do you need? For example, how many miles are you planning on driving, and would a lease agreement get in your way?
Access to cash. How much cash do you have on hand, and how easily can you qualify for a loan?
Monthly budget. What is your monthly budget for a vehicle? Would a lease or ownership arrangement be more favorable to your financial needs?
Preferences for repairs and maintenance. How are you going to handle repairs and maintenance to the vehicle?

Buying and leasing are both viable options for vehicles, regardless of whether you want a personal vehicle or a commercial one. However, one will likely favor you and your situation better than the other. Consider your options carefully before making the final decision.

Blog

6 Reasons to Try Cannabis Edibles

Published

1 year ago

February 21, 2023

Jimmy Lerner

Are you looking for a reason to try cannabis edibles? If you’re wondering if there are benefits to edibles that you can’t get with other forms of cannabis, the answer is yes. Here are some of the best reasons to try cannabis edibles.

Some edibles are boosted

When you smoke cannabis flower, you’re only getting cannabis. That’s not a bad thing, but there are brands that sell edibles that have been boosted with other ingredients. For instance, you’ve probably seen capsules with added herbs to help you sleep – the same is true for edibles.

One of the newer enhanced cannabis edibles are the Bits adaptogen-boosted edibles. These new cannabis edibles contain just 5mg of THC per Bit so you don’t overdo anything. Each flavor is packed with a unique blend of adaptogens like ashwagandha, reishi, elderflower, lemon balm, ginseng, guarana, and rose hip.

Why adaptogens? Adaptogens have been proven to have a positive impact on the central nervous system by decreasing sensitivity to stressors. In other words, adaptogens reduce stress and anxiety and contribute to an overall sense of wellbeing. When you consume cannabis edibles boosted by adaptogens, you’re going to feel more relaxed.

Edibles provide precise and consistent dosing

One of the best reasons to try edibles is for precise and consistent dosing. When edibles are made, the cannabis is thoroughly and evenly mixed in, so each serving has the intended dosage when the final product is made. In addition, premium cannabis brands like Verano lab test each batch to ensure quality and consistency with all of their products, including cannabis edibles.

When you smoke flower, you won’t always get the same amount of THC. It’s nearly impossible to know how much THC or CBD you’re getting from smoking flower. Even when you smoke the same strain in the same amount, the THC and other cannabinoids are distributed unevenly throughout each bud.

If precise and consistent dosing is important to you, then edibles are going to be your favorite cannabis delivery method.

Edibles are tasty

Edibles taste good, so why not try them? It’s just like eating a snack or a treat, but with a purpose. If you’ve avoided trying cannabis tinctures or oil because you don’t like the flavor, that’s understandable. Edibles are different because the taste of cannabis itself can be easily masked.

Brands go out of their way to come up with recipes that taste good because they know some people don’t like the strong flavor of cannabis. Edibles like brownies, cookies, and chocolate bars usually just taste like any other cookie, brownie, or chocolate bar. Premium cannabis brands will also use quality ingredients to produce the best cannabis-infused gummies, hard candies, and baked goods.

Edibles are easy to carry

If you want to carry your cannabis around discreetly, that’s easiest with edibles. They usually come in smaller packages that you can fit into a pocket or bag, and edibles are easy to eat without anyone suspecting you’re consuming cannabis.

When carrying edibles, be smart about where you bring them. Make sure you know where you can and can’t have them. If you’re headed to the airport of a government building, for example, you’ll want to leave your edibles at home.

The effects of edibles last for a long time

Smoking flower is great when you need relief quickly, but when you want the effects to last a long time, edibles are your best option. When you ingest cannabis, it takes longer for the effects to kick in, but those effects will last for a much longer time. You also don’t need to consume as much cannabis to get these long-lasting effects.

Everyone is different, and the timing depends on a multitude of factors like our metabolism and whether you’ve eaten or have an empty stomach. However, in general, it takes between 30 minutes and 4 hours to start feeling the effects of edibles. From there, the effects can last a few hours or even up to twelve hours. This is why many people take edibles before going to bed – getting that full impact while they sleep makes them wake up feeling incredibly rested.

Edibles are a great alternative to smoking

Although smoking cannabis is probably the most popular consumption method, it’s not for everyone. Edibles won’t expose you to the potentially harmful effects of smoking. If you’ve been avoiding trying cannabis because you thought you had to smoke it, edibles are the perfect opportunity for you to try cannabis.

Already familiar with edibles? Try something new

If you’ve been consuming cannabis edibles for a while, maybe it’s time to try something new. If you’ve always been into baked goods, branch out and try some beverages, chocolate bars, or even an adaptogen-boosted cannabis gummy for example. There are plenty of edibles to choose from so you can be sure you’ll find something new that you can enjoy.