What separates a lease from a purchase is the long list of benefits. It’s true leasing is not the correct answer for everyone who is in the market for a new car. The person who benefits most from a lease is someone who keeps mileage low on their vehicle. The standard lease allows for approximately 12,000 miles per year on a leased vehicle, but many dealers allow consumers to add additional mileage to make it 15,000 miles for drivers who need a bit more leeway. It costs to add mileage to the lease agreement, but it’s better than paying the overage fee per mile when you turn the car in at the end of the lease. If you drive more than this, a lease is not the right choice. If you don’t, there’s no question leasing is the better option.
It’s More Affordable
Few people are turned off by affordability, which is what makes a lease such a good option. Leases are more affordable because the driver only pays for the depreciation that occurs when the car leaves the lot. This means you pay only a portion of the total cost of the car during the time you drive the vehicle. It’s often less than half the price of the vehicle. You get to drive a car that’s more expensive for a monthly payment that’s far more affordable.
It Offers More Options
Driving a lease means you get to choose from a wider variety of vehicles. You know what you can afford to pay monthly, and you know buying a car means paying a lot more each month. With a lease, you can choose from many vehicles and still keep your payment low each month. It’s how many consumers drive luxury vehicles, convertibles, and SUVs. If you want a BMW or a Lincoln, the lease might be the best option for you to when it’s time to drive off the lot with a payment well within your budget.
It Offers A New Car Every Few Years
When you purchase a car, you can’t trade it in easily every two or three years. You took the hit on the depreciation of the vehicle when you left the dealership, and now you probably owe a lot more than your vehicle is worth to sell or trade in. This means you make the decision to roll over the amount you owe in excess of your payoff into a new car or hold onto the old car a few more years. With a lease, this is not a problem. When the lease is up, you get to take the car back to the dealer, choose a new car to drive home that day, and you needn’t worry you owe too much on any other vehicle to make this happen affordably. You get a new car every two or three years with no worries.
It Offers More Security and Safety
You’re driving a brand-new car with all the latest safety features to keep you comfortable on the road, but you also never worry your car will break down. Your car is always too new for major problems, and any other problems are still covered under warranty. A lease is short enough you never lose your warranty due to age or mileage. This offers more peace of mind than most people can imagine.
Leasing vs. buying is an age-old debate, but the leasing game has changed dramatically in the past few years. It’s much easier, more affordable, and it’s now offered on any vehicle you could imagine. It’s easier than ever, and it makes buying a new car that much more affordable.