Top 5 Reasons Why You Should Lease Your Next Car
1 out of every 4 car shoppers ends up leasing, often times focusing on the lower monthly payments and cot considering whether a lease actually makes sense for their particular situation.
Here are the top 5 Reasons why I THINK Leasing may be a smart option for YOU!
- YOU LIKE DRIVING A NEW VEHICLE EVERY 2 TO 3 YEARS
Some people just love driving a brand new car every few years. Maybe they’re addicted to the new care scent or perhaps they just want to project a certain image within their community and friends.
Whatever your reason, if you were to finance a car with a typical 60 month loan and decided you wanted to trade it in for a new one after 3 years in many cases, you will still owe more money than what the car is worth due to depreciation. It’s much better to lease if this is what you intend to do.
- YOU HAVE GOOD CREDIT AND ARE FINANCIALLY STBALE
When leasing, the manufactures surely have great incentives for those who have positioned themselves financially to take advantage of those sales and saves themselves hundreds.
If you own your own business and you will be using the vehicle primary for your business, leasing makes perfect sense, because you can deduct almost all of your payments as a depreciation expense.
- YOU WANT TO DRIVE A MORE EXPENSIVE CAR THAN YOU CAN AFFORD TO BUY
Leasing a car generally requires less cash up front. Some leases require 20% down, if you want to get a good finance rate. Your lease payments will also be a lot lower than if you had purchased the same car and gotten a loan for the same time-frame.
- YOU WANT A CAR THAT’S ALWAYS PROTECTED BY A FULL FACTORY WARRANTY
A major benefit to leasing is that you never have to worry about mechanical issues or repairs. As long as you lease a car for 36 months or less, you will be covered by a bumper to bumper factory warranty the entire time.
- YOU DRIVE LESS THAN 15,000 MILES PER YEAR
The vast majority of leases allow you to drive between 12,000 to 15,000 miles per year.
Anything over that will result in a penalty of .15/ mile through Toyota Motor Credit. If you know you’ll be driving a lot of miles, but still want to lease, you can pre pay extra miles before you sign off on the lease. Paying up front will be a lot cheaper (.10/mile) than paying penalties at the end.
Please visit my Facebook Customer Relations Page for a full break down of how Leasing Deals and Specials can work for you so you will understand how Leasing works.