You have probably heard of car dealerships constantly pushing the idea of leasing a car, but that concept has quite a bad reputation. Rarely people are into that because they just want to buy the car they want. Logically, it makes sense to make a long-term investment to own something instead of just getting a piece of document and the vehicle that you will have to return after several months or even several years. But, what if I told you that is not the case. At least, not anymore.
There are actually a lot of reasons why people should consider leasing a car instead of buying one. However, if you have constantly been hearing bad things about this idea, you may need a bit more information on this matter to understand why it is the better deal, for more details check out Car Buying Strategies.
To provide you with that information, I explored more on this topic and found top reasons why it is better to lease a vehicle instead of buying one.
Source: Car Rental Kuwait
Contents
1. Always with a brand-new car
The single most obvious and best benefit or reason why people should consider leasing as an option is that you will always be with a brand-new car. Is there really anything better than that?
Who does not like driving the latest and greatest? Every year, we get new cars from brands such as Ford, Toyota, Mazda, Audi, BMW, Dodge, and anything else you can think of.
Of course, the more expensive car will require higher monthly payments, but even those are not too expensive. Remember, buying a vehicle easily cost $20,000. That is a lot more than just a few several hundred dollars every year. For more information on buying the car, click here.
Source: TheStreet
2. It is possible to change the car
When you buy a car, you give the money, and then you are bound to this vehicle for years and years unless you decide to sell it. But, if you sell it, you lose out on a lot of value. It is very financially smart to do that.
When leasing a vehicle, you are also bounding to a certain vehicle with a contract. However, if you get bored of that vehicle or if you simply do not like it, many of these companies that offer leasing services might be willing to change it for you. It could be for a model that is in the same price range or you could go for something more expensive.
In other words, you never end up with the same car. You can quickly change them as time passes by.
Of course, this does not mean that you can change it whenever you want, but it is still better than being stuck with one car.
Source: Finance Champions
3. Never worry about maintenance
The great thing about buying a brand-new car from a salon is that it will not break anytime soon, and if it does, at least you have a warranty. But, usually warranty for vehicles lasts anywhere between two to four years. This is not a lot when you consider that some people drive the same vehicle for more than an entire decade.
When a newer vehicle requires repairs, the user has to pay thousands of dollars for a mechanic.
Because of this, leasing a car is a much more logical option because you do not have to worry about maintenance or repairs ever again.
Since you will be leasing a newer model, it probably will not show any kind of signs for repair. However, if something does happen, your car will always be covered under warranty by the company that provides the leasing services as suggested by www.leapvehicleleasing.com.
Even if you are forced to take your brand-new car for maintenance, you could even get a replacement. Keep in mind that depends on the policies of the company. So, before you signed a contract, make sure you find out what kind of features they offer.
Source: A Plus Transmission & Auto Repair
4. It is a quick and easy process
I think that many people avoid the idea of leasing a car because it used to require a lot of documentation contract signing. For many this seems like a scary in a long process. Something much more complicated than just buying the vehicle.
However, that is not the case anymore. This makes for a very effective advertising strategy which is why a lot of car manufacturers have made the leasing process so much simpler. Making it much more attractive to all customers.
Because of this, a lot of customers come back to lease again or even by the vehicle. It is a win-win situation for everyone.
Source: Car and Driver
5. No devaluation
Every product of the automotive industry has a very hard time maintaining its value. The moment a car is purchased and a few kilometers are put on its odometer, the value starts to drop considerably. After just one year, the price of this car can drop by 30%. That is a lot of money, especially when buying a more expensive car. 30% of $30,000 is about $9000. Basically, you lose almost 10k in just one year.
In other words, cars are not exactly a great investment. It is an asset that quickly depreciates. Constantly having to worry about the real value of your car, when is the best time to sell it, should you sell it and things like that is truly not worth it.
This is why people believe it is a much better option to just lease a vehicle. Yes, you will not have ownership of the vehicle and you will not be able to get any money back by selling it, but remember that you will ultimately spend less money.
In other words, you are effectively saving money by leasing and you also save yourself the stress of the evaluation. That is something that the leasing company is going to worry about and not you. Once your contract ends, you give back the car and take a completely newer model.
As you can see, there are a lot of reasons why you should consider leasing a car instead of buying one. The benefits are obvious.
