You may have heard it’s a bad idea to lease a car, but that viewpoint has become outdated. Although leasing sometimes gets a bad rap, it’s a smart choice for many consumers.
The following explains more about how to lease a car to help you decide if it would be a good option for your needs and preferences:
What’s involved with leasing a car?
When you lease a car, it’s somewhat like a rental option. You’ll make arrangements with the dealer to lease the car for a particular length of time and will sign a contract detailing your monthly payments and other information such as your allotted mileage and the condition the car must be returned in.
Why does leasing get a bad rap?
Much of the reason comes from the fact that some people believe it’s always a costlier alternative. That could be true if you typically own a car for at least six to eight years and have very little maintenance costs in the later years, after your warranty expires. But in most cases, people want to have a new car more often than that. Technology and styles are constantly improving, which makes new vehicles safer and more comfortable. As a result, most people don’t keep their cars long enough to make ownership the better option.
What are the advantages of a lease?
For many consumers, leasing a car offers many advantages, including the following:
Getting a lower monthly payment
Since monthly lease payments are cheaper than the monthly payment when you’re buying and financing a car, you’ll be spending less money per month. In addition, your down payment can often be lower – and in some cases, you may not have to make a down payment.
Avoiding costly repairs
As your car ages, your repair bills start to add up. By leasing a car, you’ll be protected by the vehicle’s factory-included warranty since you won’t be keeping it for more than a few years.
Affording a more expensive car
Leasing may allow you to drive a more expensive car than if you were buying and financing the vehicle. This could be especially important if you drive your car for business and need to impress clients.
Easily transitioning to a new car every few years
When your lease is up, you can easily turn the car into the dealership and sign a lease on a new car. You’ll avoid the hassle of trying to trade in or sell your car, which is often the case when you own the vehicle.
Saving money on sales tax
Since you’re not purchasing your vehicle, you’ll be saving money on sales tax. If you’re looking to lease a car, come to Valley Automall in Henderson, NV. We have some of the best car leasing deals in Nevada and will be happy to help you find the right vehicle for you.