To start off with, one of the major benefits of leasing a car instead of buying one is the fact that the financing is generally much simpler. Because you don’t need to finance the entire price of the car, but, instead, simply the cost of the depreciation that will occur while you use the car, the overall cost is often much cheaper than car ownership in the long run. Furthermore, because of the lower costs, you typically don’t have to have perfect credit in order to get a great car, making car leasing a more accessible option for many people.
Cheaper Monthly Payments
As mentioned, when you lease a car, you are not paying for the entire price of the car. Instead, you are just paying for the depreciation. As a result, not only will you pay less in the long run, but you will also pay less each month. In fact, on average, payments for those leasing a vehicle, as opposed to buying, are about 30 to 60% less, and those types of savings can really add up over time!
Get Something New!
Many people would love to have the hottest, newest car. Unfortunately, owning such a car just isn’t financially feasible for the vast majority of individuals. With leasing, though, you can get an incredibly nice car, one you could never afford if you were buying! Even better yet, once you’re tired of the car, you can turn it in and lease an even nicer, newer one. This means you never have to get bored with your vehicle, and you can always have the newest and best set of wheels on the market. What could be better than that?
No Need for a Huge Downpayment
Most of the time, when you buy a car, you are going to be required to make a very large downpayment upfront, which can be difficult for many people. With leasing, however, the downpayment is typically much lower. This means that you could potentially get a new vehicle and drive away in it…all without having to fork over a lot of money all at once. In fact, in many cases, you may not even have to make any downpayment at all!
No Maintenance, No Problem
One final thing to love about leasing is that you can choose to have a lease that lasts the same amount of time as the vehicle’s manufacturer’s warranty. This means that any maintenance or necessary repairs would be covered by the manufacturer…instead of coming out of your pocket. Talk about saving money!
As you can see, leasing has many wonderful benefits, so it is certainly an option you should strongly consider when it comes time to choose your next car.