While there are several paths aimed at getting you into a new car, few are as beneficial today as a lease. It is a great feeling to be in a new car that are free to drive and take care of as your own, yet know that you do not have to worry about the hassle of trying to sell it when the time comes to begin looking for a new one. If you are just now beginning the process of looking for a new car, you will want to look into the possibility of a lease. You will realize many advantages to doing so, and here are four reasons to lease a car today in order to give you the information you need to make an informed decision.
Keep From Getting Bored With Your Car
Many people grow tired of their car after a few years and are ready for a new one. The problem is that it is not always financially feasible to sell a used car and buy a new one very few years. You must wait longer than that in order for it to be cost effective. With technology rapidly advancing today, new makes and models are being introduced every year that really shine and sizzle to the point that the average person does not want to wait years to get into a new car. A lease makes that possible. With the average term of a lease being three years in length, you will be able to change in your existing vehicle for a new just about the time you are ready for a switch. You can do this without having to worry about selling the car, so it is really a great deal for you all around.
Avoid Costly Repairs
One of the expenses associated with car ownership that people tend to forget about is associated with upkeep, maintenance, and repairs. When you first get a new car, these are the furthest expenses from your mind. Not only is the car under warranty, but it is also in perfect running condition (at least it should be!). As time goes on and the miles begin to pile up, however, repairs become an inevitable part of car ownership. A full set of tires alone can set you back nearly a thousand dollars. Brakes go bad, transmissions go out, and the list goes on. With a lease, these are not your concern. The car remains like new for the entire time that you have it, meaning that repairs are unlikely to ever become necessary. In the event that something were to go wrong with the car, however, it will always be covered under a warranty so you will not incur the expense.
Stay Away From Depreciating Vehicles
Another dreaded part of car ownership is depreciation. The reality is that the value you a new car is worth at the dealership is not what it is worth by the time you get it home. If you wonder how this could be, all we can say is welcome to the world of depreciation. Because people put a lower value on a car that is not technically consider brand new, the value of most vehicles depreciates rapidly. This means that you will need to wait quite a few years before you are able to break even on your car. Even if you keep the vehicle in great condition, the chances are slim that you will be able to sell it for what the car is actually worth when it comes time for you to begin looking for a new one. People today just are not interested in paying top dollar for a used car. With a leased vehicle, however, depreciation is not your concern. It is an expense that the dealership incurs, since they retain ownership of the vehicle throughout the duration of the lease.
Enjoy Lower Monthly Payments on Average
Another great advantage of a car lease is that you will enjoy noticeably lower monthly payments on average than you would if you financed a new vehicle. There are several factors behind this. To begin, you incur financing charges and interest rates that vary depending on your credit. This all adds up to a higher monthly payment when you buy a car, and that often limits that type of car that you can get to fit into your budget. With a lease, you can turn those lower payments into added savings in the bank, or put it towards an enhanced options package for the car of your dreams. The choice is up to.
These advantages should help you see why leasing a car may be a great fit for you. Consider what your own financial needs are and make a decision that is in your best interest.