Should you lease a car? This is a question that certainly will bring about a variety of different responses and answers. First, what is leasing? Simply stated, leasing a car means that you are essentially engaging in a prolonged rental of a car. As a result, you will have a limited number of rights in terms of using the car. Here are some of the key facts you should keep in mind when it comes to leasing.
5 Key Facts Regarding Leasing a Car
- When leasing, it is important to remember you don't own the car.
- Leasing usually comes with a certain number of leasing agreements that one agrees to, such as a limited number of miles per year.
- Leasing comes with an option to buy in most situations.
- When leasing a car, it is very common to have to pay money upfront in order to lease.
- A very high percentage of cars are available for leasing.
Leasing has continued to exist, as it has many different bright spots that attract consumers. Let's take a look at some of those bright spots.
3 Reasons Drivers Choose Leasing
- During the term of a lease, car dealerships take care of most car maintenance and repair. This makes leasing an excellent option for those who don't want to handle most aspects of car ownership.
- Many of the worries that come along with owning a car don't exist with leasing.
- By leasing, it is possible to drive a new car every 2 or 3 years.
Is it better to buy a car or lease a car? This is, of course, a personal decision. However, for most car buyers, the option to purchase a car is generally viewed as being a superior option. One key reason for this is that leases generally require people to put money down up front. Another issue with leasing is that the driver doesn't own the car. This, of course, means that you will always have a car payment as long as you are leasing. For those looking forward to a day without car payments, leasing isn't a good option.