What Are The Benefits Of Leasing Your Next Vehicle?
Getting a new vehicle is an enormous commitment and generally requires years of payments. Once the vehicle is paid off in, say, three to five years, what do you want to do with it? If you want to immediately sell it and buy a new model, buying may not be the best financial decision for you.
Leasing is a viable option for many drivers and it could be the one for you. There are plenty of financial benefits, even if you don’t end up owning the car outright.
When you lease a car, you’re effectively “renting” the car long term. How much you pay over the course of your lease contract is decided beforehand. The total you’ll end up paying is the difference between the new car price and the resale value at the end of the contract, which is predetermined when you sign.
Once your lease is up, you turn the car back in or buy it outright. If you’re the type of driver who has to have the newest model, then leasing is right for you.
New cars are covered by the factory warranty for the duration of most leases, meaning all repairs are covered. No extra money leaves your pocket outside of routine maintenance.