Most people will tell you that it is not a wise decision to lease your car. It’s a waste of money to pay for something you are essentially renting rather than purchasing, and you will never pay it off. It’s not yours and the rules are too stringent. As someone who is a reformed leased car driver, I can see both sides of the story. I enjoyed leasing, but it’s not something we ultimately decided for us. Essentially, you have to buy a car that you get to drive for a short amount of time, but you have to take it back at the end of that time frame, and you have to ensure that the car is in good condition, the mileage is within the limits discussed at the beginning of the lease, and that you want something new every few years. It sounds like a good plan, but you have to be a very specific person for leasing to work. For me, I enjoyed leasing because it kept payments very low on the type of luxury cars I like to drive, but I never managed to stay within my mileage, and I always had to pay a lot of money at the end of each lease, and that was what made it not worth it for us. But if you’re considering leasing, I do have a few great reasons why you should consider it.
If you Always have a Car Payment
Some people will always have a car payment, and they don’t care. They do not care if they are always making a payment on a vehicle, and those people are perfect candidates for leasing. You get to have a new car, make that payment, and move on.
If you like a New Car all the Time
People who love to drive a new car at all times will love the idea that they can do just that with a lease. If you’re tired of your car every two years, lease it and get rid of it at the end of that time frame for a new car. It’s simple, and it’s what a lot of people do.
If you Don’t Drive Often
You do have to take care of the mileage on your vehicle to keep from paying a very expensive fine at the end of the lease. If you don’t drive much throughout the year, leasing might be a better idea for you than it is for other people who drive more often. You typically get 10,000 to 12,000 miles per year, but you can pay upfront for additional mileage.
If you Take Good Care of your Vehicles
I always assumed all people take good care of their vehicles, but it’s not the case. There are some people that just don’t care about their cars; the way they look or the cleanliness of their interiors. Some people abuse their vehicles and just don’t care. Those who don’t do that are a much better candidate for a lease that goes back after time.
If Insurance Rates don’t Matter
It’s typically a bit more expensive to pay for insurance on a leased vehicle than other vehicles since banks have so many requirements. That car is not going to you at all; it’s their car and they want to ensure that they are getting the best end of any deal, which means they are going to require that you pay higher insurance rates for more coverage.
The Car is Worth It
Here’s where things get a little tricky; you should never lease just any car. The payment that you will pay matters a lot because of the value of the car. If you want a lower payment, you should get a car that holds onto its value. Dealers want to be able to sell that car at the end of your lease, and they can’t do it at a profit if the car is not one that holds its value very well.
One of my favorite things about leasing is the free maintenance. Never once do you ever have to worry about paying for those ridiculous $150 oil changes or maintenance fees associated with driving an expensive car. They’re included in the price of your lease, so they’re handled for you at no cost. Dealers want those cars cared for while you’re driving.
Warranties Never Expire
Nothing induces more nerves and more fear than the expiration of a car warranty. I can tell you that knowing that your warranties are about to expire makes you nervous because you are just never sure what will happen. But your warranties will not expire with a lease since they are not your cars to keep for that long. You’ll never worry about making repairs and paying costly expenses associated with your car when you lease.
It’s Not Impossible to Get Out
It is not easy to get out of a lease early, but it’s not impossible. If you need a new car, want a new car or just want to get out of your lease, you can do it. You can sell it outright for a hefty price. You can even take it to a few websites that will allow you to pay a small fee to have your lease transferred to someone else so that you can have the car you want after getting rid of the one you no longer want. It’s not easy, but it’s not impossible.
You can Drive a Nicer Car
The best benefit of a lease is for those who want to drive a nicer luxury car at a lower payment. You can drive just about anything you want for an affordable price with a lease, you just have to know what you want. It’s also important to remember that many of the lease options for expensive cars have a bit more fine print, so check that out before you go into a dealership thinking you are getting one thing before you walk out with another.
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