For our friends out there who enjoy the perks of driving the latest models but aren’t really keen on the idea of long-term commitments, leasing a car, truck, or SUV can be the way to go. Leases are a a great option for those who love all things shiny and new, along with all the bells and whistles that come along with that fresh car just rolled off the factory floor. So let’s talk about the benefits of leasing, shall we?
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The Newest Features
Of course, one of the most obvious and attractive elements of leasing is that you get to drive a brand new car every few years. This means that you are always sitting in a vehicle powered by and encompassing all the latest cutting-edge technology. It can mean better and better fuel efficiency as well as access to the most recent safety features. As automakers continue to innovate, each new leased vehicle hosts advancements that you get to experience first-hand.
Warranties and Maintenance
When you lease a vehicle, it often comes with really good warranty coverage throughout the term of the contract. And a good warranty means that most repairs will be covered, leaving you with less to worry about. What’s more, regular maintenance is often included in a lease, making routine service appointments a whole lot easier.
Financial Benefits
It’s a bit like renting versus buying: from a financial standpoint, leasing can be a bit more attractive: with a lease you can potentially have lower monthly payments as opposed to when you purchase a vehicle outright. Also, the initial down payment will likely be lower than on a purchase, which helps keep more cash where it belongs: in your pocket.
Lease End Flexibility
It’s nice to have options, right? Well, when your lease is over, you often have the flexibility to either purchase the car for its remaining value or to just return. This means no headache of negotiating a trade-in or reselling, which we love. Having things this easy can be exactly the right move for folks who want that quick turnover between vehicles…along with the choice to actually commit to the car if they love it enough.
Some Things to Consider
If you’re a lifelong leaser, then this is your thing, and we support it! But, if you’re considering leasing, there are a few factors that might be slightly less attractive to you that you may want to keep in mind before making this decision:
- Mileage limits. Leases often come with a predetermined set of miles, and if you exceed the number, it can lead to additional charges. If you tend to drive long distances, buying a car could be more cost-effective in the long term.
- Vehicle Condition. Leased cars need be kept in really good shape in order to avoid end-of-lease penalties. Excessive wear and tear (or what the dealership decides is excessive) can end up costing you. Understanding the terms of use before signing your contract can help prevent unexpected charges down the line.
So, leasing can prove to be quite advantageous for folks looking for lower monthly payments, the newest models, and the flexibility and convenience leases provide. As with everything, though, it’s a good idea to assess your needs (and wants) and be sure to understand the nuances of leasing. This way, you can make an informed decision and see if a lease is right for you!
