When purchasing a new car you usually have two options: buy or lease. There are several benefits to leasing a vehicle, and for some customers, it is the best option. Here are some of the reasons to lease a car.
1. Lower Tax Burden
Leasing often brings a lower tax burden than if you would have purchased the same vehicle. This benefit ensures that you incur a less cost in terms of tax than the other person who is driving the same car that he or she purchased.
While pre-paid maintenance plans are offered for both leases and purchases, you can often get one that runs the length of your lease agreement. This will allow you to have all your scheduled maintenance performed without having to pay for every individual service. Plus, by having your maintenance taken care of, it help to maintain the validity of your factory warranty.
3. New Car Every Few Years
If you lease a vehicle, the agreement usually only last for two or three years. This means that once the lease is up, you have the privilege of driving a brand new car. There are advantages to driving a new car. They are often more fuel efficient and are less prone to mechanical issues.
4. Easy and Convenient
If you have stuck to your mileage limits and have taken good care of your car, then returning it is a breeze. After the leasing period has expired, you just take the car back and walk away. You don’t have to worry about trying to sell it when you no longer need the car.
5. Lower Cost
The cost of leasing is often cheaper than buying. When you lease a car, you do not pay the full purchase price since you are not actually buying the car. This often makes the monthly payments lower than if you were to purchase the vehicle.