Benefits of Car Leasing in 2017
It’s official! As a nation we’re in love with leasing.
For many of us, buying a new car is accompanied by the reality that we’re sinking our savings (or taking out a loan) on a depreciating asset; something that’s going to lose its value from the moment we’re behind the wheel. By contrast, with leasing we can make monthly payments that fit into our budget knowing that at the end of the leasing term we can start again with a new car on the same budgeting basis.
So what are the main benefits of leasing – whether you’re considering leasing a car for personal use, business use, or as is increasingly common nowadays, a mixture of both?
Lower Monthly Payments Because you only pay for the portion of the value of the car or truck that you actually use, your monthly lease payments are 30%-60% lower than for a purchase loan for the same car and same term. You don’t pay extra money each month to “invest” in ownership equity.
Lower Up-front Cash Outlay Most car leases require little or no down payment, which makes getting into a new car more affordable and frees up your cash for other things. However, you can choose to make a down payment, or trade in your old vehicle, to lower your monthly payment amount. Preservation of cash is a strong incentive to lease.
Fewer Maintenance Headaches Most people like to lease for a term that coincides with the length of the manufacturer’s warranty coverage so that if something goes wrong with the car, the repairs are always covered. Some car companies also offer free routine scheduled maintenance for the term of the lease.
Leasing puts you in charge. Most leasing contracts offer you a number of options to choose from including the length of your contract, your annual mileage and, if you want to include vehicle maintenance and servicing or not.
- Image is important especially when your car is intended for business use as well as personal. Your current car might not project the image you want to convey to your customers. With leasing you can choose the car that supports your image. And if you travel a fair few miles, one that’s fuel efficient too.
Contact us here at Ultracars for all you leasing needs and questions.