Many people chose not to lease because they believe they’ll have nothing to show for it when the term is up. This may be true, but ignores the fact that buying a new vehicle is costly and a poor investment. From a financial standpoint, leasing makes sense – why buy something that depreciates in value (like a new car), when you can invest your money somewhere profitable instead.
Little to No Down Payment: Although many advertised new cars lease specials include a down payment, it is usually smaller than that required to buy a car. Most leasing companies are willing to lower the down payment if required. However, it’s important to remember the smaller down payment you make the more you’ll need to finance, increasing your monthly payment.
Lower Monthly Payments: When leasing you only pay for the amount the vehicle depreciates over the lease term. Monthly payments will be much lower than if you choose to buy a vehicle because the amount you finance is considerably less.
No-Hassle Turnover: As previously stated, many people choose not to lease because they will have nothing to show for their money when the lease term is up. That’s true, instead of continuing to make payments on a deteriorating vehicle or dealing with selling or trading in your now old car, all you have to do is return the car to the dealer. No hassle, no haggling, no continued maintenance and repair costs. Simply enjoy your car for the best period of its life and then return it!
A New Car More Often: Drivers choose to buy believing it will build equity. Eventually, after all car payments are complete they will own their vehicle debt free. Depending on how long it takes you to pay off your car loan this may be a good idea. On the other hand if you just trade in your vehicle after you’ve paid it off, you’re starting all over again.
Leasing allows you to drive a new car more often; every two to four years. Then upgrade to a newer model when the lease is complete. You don’t have to worry about trading in or selling your old car. Just hand it over, make a new contract and drive off the lot enjoying that new car smell and quality once again.
Flexible Lease Terms: Most dealerships and leasing companies offer multiple length lease contracts. Choose anywhere from two to four or more years. As vehicles depreciate more rapidly the older they get, it is recommended to select a lease term of 24 to 36 months. When deciding on a lease, consider both the amount you expect you pay, and your ability those payments for the entire length. Getting out of a lease can be a hassle; credit damaging and costly.
Discover the top new cars lease deals today by requesting a free lease quote. Learn current lease specials available in your area. Connect with local pre-qualified dealers offering rock-bottom lease deals!
