For the majority of people, purchasing an automobile typically makes more financial sense than car leasing, but, if a lease ends up being right for you, you ought to know the benefits it offers vs. purchasing a vehicle.
Lower Month-to-Month Payments
Usually, leasing a vehicle results in month-to-month payments that are 30 to 60 percent lower vs. purchasing an automobile. This permits you to drive an automobile that you might not usually have the ability to afford, and this is maybe the biggest benefit that leasing offers.
Low Maintenance, No Repair Expenses
I know you’re asking yourself, “Should I lease or buy a car?” Well, if you take my advice and just lease for less than 36 months, you’re usually covered by a manufacturer’s bumper-to-bumper warranty within the whole lease. You’ll never need to be concerned with major repair expenses, and in some instances, manufacturers also provide maintenance-free of charge for the first few years.
Should I lease or buy a car: No Hassles with a Used Car
In the quest to figure out, “Should I lease or buy a car?” Consider this: once the lease is complete, you just return the vehicle to the leasing agency. No more troubles attempting to sell a used vehicle – and the value of the car after the lease isn’t your problem. There are some instances in which leasing businesses overestimate the value of the vehicle, resulting in a lower payment for you, as well as a loss for the leasing agency.
Best Way to Get a Good Deal When Leasing a Car
Still puzzled about the question of, “Should I lease or buy a car?” Well, let’s break down how to get a good deal when leasing a car:
Spot the best deal
Still don’t know the answer to, “Should I lease or buy a car?” One simple method of spotting the best deal includes looking at how much a dealer is charging over the price of the invoice. Although the overall price is changing, the relationship to the price of the invoice uncovers the best deal.
For instance, one vehicle may be selling for $23,000, yet its invoice price is $22,000; therefore, it is selling for $1,000 over the invoice price. The other vehicle that sells for $24,000, possesses an invoice price of $23,500, which means that it’s selling for $500 over the invoice price.
Request lease payments
Choose the vehicle that has the best sales price, as well as the options and color you want, and call back the salesperson who provided you the quote. Tell him/her you have made the choice to lease the vehicle. Ask him/her to provide your lease payments at the sales price that was quoted.
Close the lease deal
Assuming that the month-to-month payments fit into the budget, you’re pretty much prepared to agree to the lease deal. Before you proceed, ask the salesperson to deliver the vehicle to you instead of picking it up at the car dealership.
If everything looks good, sign the paperwork, give the dealer a check for any drive-off fees, and ensure that you have insurance on your vehicle. Over the three years of your lease, keep in mind that you do not own the vehicle. Have all of the required maintenance done and take good care of it to avoid penalties for excessive wear and tear once you return it.