To buy a new car or lease one is the question so many consumers ask when they enter a car dealership. It’s a simple decision for many, and it’s one others are still unfamiliar with. Buying a car is what everyone does, right? Wrong. Buying a car is what many people do, but it’s not always the best solution. There’s nothing wrong with buying, but it’s better for those who put a lot of miles on their vehicles. It’s the most affordable way to drive long distances, but it’s not the answer for drivers who keep low mileage and enjoy driving new cars every few years.
Leasing is more affordable, more practical, and more beneficial for many. The concept of essentially borrowing a car for two or three years seems a little foreign to many consumers, but it works. Most people want to trade in their car after a few years, and many find it’s near impossible to do so because they are upside down on their purchased vehicle. It means the car is worth less than what you owe on your loan. It’s hard to trade in a car like this. You must either put down a large down payment to pay off what’s left of your loan or roll the remainder of your loan into a new car, which is never a wise idea. Leasing eliminates this issue for drivers who like a new car every few years, and that’s just one of the many benefits.
Smaller Monthly Payments
When most people consider what they want and need in a new car, the idea of a low monthly payment is the obvious answer. It’s not easy to find a great car with a low monthly payment, however. When you lease, you get to choose cars that are way out of your purchase budget for less than the amount you’d pay monthly to purchase a less expensive car. For example, you might spend $500 per month on a $30,000 car to purchase, but you can lease a $50,000 car for the same price or less each month. It’s a smaller monthly payment, and it’s a much nicer car you’re parking in your driveway for the next few years.
You Always Get New Cars
The hassle of buying a car is not only intimidating, it’s also annoying to many buyers. When you want to trade in a car you purchased, you do a song a dance with dealers trying to negotiate a great trade-in value that pays off the value of your car. It’s not easy to do even when you owe less than the value of your car. When you owe more, it often makes the car you want to purchase too expensive to leave with. When you lease, you get to drive what you want, turn it in at the end of your lease, and drive away with a brand-new vehicle. There is no trade-in value, no negotiating, and no one telling you what you can and can’t buy.
A leased vehicle offers a lot more security than a vehicle you drive outright. You get to drive a car that always has a valid warranty. You never pay for major repairs, and most of your maintenance is free with your lease. Dealers even allow you to negotiate how many miles you need on your lease allowance and how many months you want to lease your new car. It’s a simple process, and it’s one that will save you a lot of time, money, and stress.
Buying a new car is always a stressful experience. When you take the time to lease, you receive ample benefits. Those benefits continue as you continue your relationship with a dealership as you lease more cars in the future. You know what you want, they know you, and you will find the process is as simple as can be when you develop a relationship with a dealership that wants the best for you. If you love new cars, want to drive something too expensive for your buying budget, and you want security, leasing a new vehicle is the answer for you.