Do you not drive a lot of miles within a year and like to have the latest models vehicles? Leasing may be the option for you if these criteria match your desires. There are many benefits in leasing a vehicle versus purchasing a new vehicle every four to five years ago. Let us discuss the benefits of moving yourself into a lease and away from owning.
The first major benefit of leasing a vehicle is unless you abuse the vehicle, all repairs will be performed under the warranty of the vehicle. This means the only financial responsibility you will have is the payment, insurance, and standard maintenance such as oil change and tires. Typically, leases only last three years which means that when you’re ready for your new vehicle, most common warranties would not even be expired yet.
Leases are typically less expensive than purchasing the vehicle since you are essentially renting the vehicle for a period of three years. This allows yourself to get into a more expensive vehicle for a smaller out of pocket payment. It’s definitely time to get those features that you are looking for now! Also, since you are swapping out vehicles every three years, you are consistently driving the latest vehicles. If you use your vehicle for work, then this could be an advantage to keep up appearances.
During the end of the summer, it is a great time to get into a lease as dealers are looking to reduce their current year inventory and place the new year’s models on the lots. As a result, there are a lot of incentives for you to lease out a current year model at an extremely discounted price. Dealerships such as Humes Chrysler, Dodge, Jeep & RAM are running specials such as these right now at the time of the writing of this article. I recommend reaching out to them just to talk about how leasing versus purchasing could be beneficial to your situation.