Are you on the fence about leasing or financing/buying a vehicle? There are usually two types of people who can’t decide: Those who have never leased before, and those who have had a sub-par experience. Not all leases and dealerships are the same. A lease is a legal binding document, and just because you’ve had a particular experience in the past doesn’t mean it will be repeated. Trusting a reputable dealership with a transparent and generous lease agreement is the first step in smart leasing.
Never leased a vehicle before? You’ll be surprised by the benefits and how easy it makes a decision at the end of your lease—you might buy a car (including the one you leased!) or prefer to lease another, newer vehicle. Leasing a vehicle is the perfect solution for those who love that new car smell and sampling new vehicles. Here are five reasons to consider leasing if you’re in the lease versus buy mode:
1- You’re not stuck with a car when you don’t want it. If you buy a car and need or want to sell, it’s all on you. If you suddenly need to be car-free, it can be difficult to sell the vehicle at a decent price. With a leased vehicle, you know exactly how long you have the car and the conditions. This allows for easy planning since many leases are short term. They’re designed so you’re always behind the wheel of a new car.
2- You’re always in a newer model. It’s fantastic when you purchase a car and it’s new for those twelve months. However, suddenly you’re in an older car and the warranties are no longer valid. Leased vehicles never have this problem. It’s an easy way to stay safe, stylish, and keep up with the Jones’s. Why drive anything but a new car when leased vehicles are on par with the monthly prices of a purchased vehicle? Many purchased vehicles end up “breaking even” for owners during a sale anyway.
3- You can have it all. Can’t decide between various makes and models? You don’t have to. Choose a leased vehicle for a set amount of time, then trade it in for a different car you’ve had your eye on. You can have it all without constant high up-front payments or monthly payments that are too rough on your budget. You’ll also get the benefits of warranties without having to pay a premium for them. It’s the perfect solution for fickle drivers.
4- Get a serious test drive before you buy. Some people need more than a day or two behind the wheel of a vehicle to know it’s a right match. You might lease a vehicle before you buy to be certain it’s the car of your dreams. Some people choose to buy their leased vehicles, while others upgrade to a newer model when it comes time to buy. There’s no commitment to do either.
5- It’s the perfect affordable solution for low mile drivers. If you want to avoid the high costs sometimes associated with buying a vehicle and don’t drive many miles each year, leasing can be a money-saving solution. You’re only bound by the terms of the lease and aren’t paying for a car that’s designed (in price) for drivers who rack up more miles. Those who go on plenty of road trips or have long commutes benefit from purchasing a car because they need unlimited miles. If you’re uncertain where you fall on the spectrum, you can always opt for a high-miles lease and get plenty of buffer room. Start by tracking how many miles on average you travel per month. Account for any upcoming long road trips. You’ll be able to tell if leasing is a smart move for you and whether or not you need a high-mile option.
Leasing might be the solution you’ve been searching for. Do you think its benefits outweigh that of buying for your circumstances?