Why You Should Lease A Vehicle

The most important thing to know about leasing is that you’re essentially renting a vehicle. Instead of buying a car for the purchase price and paying that off, you pay for the amount that it will depreciate while you drive it. As a result, you tend to spend a lot less per month than a traditional car payment.

Let’s say your lease term is three years. Your monthly payments go toward the amount that vehicle will depreciate over that period. Lower monthly costs mean that you can potentially choose a higher-end model that you may not have been able to afford otherwise.

If you like to have the latest luxury, technology, and safety features, a lease is ideal for you. You can enjoy a brand-new model every couple of years, meaning that you’ll never have to deal with car envy.a

The best part about leases is that term limits usually correspond to the warranty lengths. That means you won’t have to deal with costly maintenance since the original manufacturer guarantee will probably cover any issues you run into in the first few years of a car’s life.

There are a few important factors to consider before you decide if a lease is the right choice for your lifestyle. To start, once you turn your car back in at the end of the term, the dealership will eventually sell it to another customer as a used model. This means that they want it to hold as much value as possible, so most leased vehicles come with mileage caps. So, if you’ve got a modest commute, the flexibility of a lease is worth the restriction. However, if you travel for work, a limit on how far you can drive may not be ideal.