Car leasing has greatly risen popularity in recent years as more and more people are realizing the wide variety of benefits which they can count on with this approach to getting a car. For those of you who aren’t aware, a car lease program is where you take a car for a certain period of time, and you pay per month for the temporary ownership of the vehicle. This is very different from renting a car, mainly because it is a long term deal which lasts anywhere between 3-5 years, and secondly because it is far more cost effective. Here then are some of the main benefits which you can count on when you lease a vehicle.
Low Monthly Payments
On average leasing a car costs around 30% – 60% less per month than if you were to actually buy the vehicle and make monthly payments on a finance deal. Of course this does vary from company to company but if you use a good company like Blue Chill Car Leasing then you can count on some reasonable monthly payments which are far more economical than if you had bought the car.
No Repair Costs
If you take on the 36 month deal, the recommended length of time for a lease deal, then you will be covered in most cases by the bumper-to-bumper warranty for the duration .This means that you will not have to worry about any repair costs during the term of your lease.
Many will point to the fact that you never actually own the lease car, but given the level of depreciation which a car will see during a 3 year period, it remains more cost effective to lease the vehicle. When your term is up there is not hassle in trying to sell you car, having to list it, speak to potential buyers, have your time wasted by them and face negotiations for the cost of your vehicle. When your lease term is up, return your car and select another new vehicle for another lease.
Through leasing you will be able to get your hands on a new car every 3 years, something which previously would have cost an absurd amount of money. Through leasing however you will have your pick of the bunch, and be able to drive a hot new car every few years.
You can lease a car without putting any money down from the outset. There will be upfront charges involved but these can be rolled into the costs of the monthly payment. In the case of a new car you will normally have to put down around 20% in order to get your hands on the car. With a lease however, just pick your car, sign the agreement and away you go, easy as that.
What do you think about leasing, is this going to be the approach you take to get your next car?