If you are looking for a new car to cruise around in for the summer, here is a mini guide to help you understand the benefits of leasing.
Leasing is the opportunity to get a new car every two to four years, depending on the vehicle and contract.
Three options at the end of the lease term:
- Get a new leased vehicle
- Purchase leased vehicle – leasing always provides the opportunity to purchase the vehicle, if you decide to change course
- Turn in the lease for other options
What are the other benefits?
1. Brand new car every couple of years – who wouldn’t mind a brand new set of wheels every now and then?
2. Lower monthly and down payment – well, there you go.
3. Warranty included – you don’t have to invest as much in maintenance!
4. Taxed only on financed portion – tax savings!
5. No depreciation concerns – No trade-in hassles – when you’re ready for a new car, just pick out the one you like!
6. Optional wear and tear protection plan – It is always a plus to have more options to keep you covered!
The popularity of leasing has grown within the past decade and continues to rise. It is important to dodge leasing myths to help you decide if this is something that best suits your needs!