Are you thinking about leasing a car but not sure if it’s is the best decision for you? After all, when you lease, you never really own the car. You’re actually borrowing it for a limited time and there are other restrictions, too such as limited mileage. So, how do you decide if you should lease or buy? One way to make this difficult decision is to look at the benefits leasing offers.
Here are five benefits to leasing a car instead of buying:
- You always have a new vehicle to drive because you can trade it in for a newer model when the lease ends. If you like the idea of driving a new car every two or three years, this is a huge benefit.
- In most cases, you have the option of buying the vehicle at the end of the lease if you become attached.
- Your vehicle is usually covered by a manufacturer’s warranty, so you don’t have to pay for oil changes and regular maintenance checks nor do you have to worry about it breaking down and leaving you stranded somewhere.
- Monthly payments are usually less than what you would pay to buy the same vehicle and you may not need a down payment at all.
- You may be able to drive a more upscale vehicle than you would be able to afford if you buy instead of lease due to the lower payments.
Leasing a car does have many benefits but it’s not the right choice for everyone. Consider your lifestyle, whether or not you have kids and how many miles you normally drive per day to help you decide if leasing is the right option for you.