Leasing a car is affordable compared to buying your own. When you lease a new car, you don’t have to pay a huge sum of money or take out any vehicle loans. You can simply make very little down payment, about 20% or less of the actual value of the car. You would then have to pay a monthly rental as a fee for leasing the car. When the lease term comes to an end you can return the car. Car leasing has a lot of advantages, like –
- You have to give only very low monthly lease payments. You only have to pay for your monthly usage and you don’t own the car, so you don’t have to pay more than your usage costs. At the end of your lease period, you would end up paying only 30-60% of the total cost of the vehicle that might have incurred.
- Some car leasing services doesn’t even ask for a down payment. Although they might ask for the first monthly payment in advance, and other charges relating to vehicle registration, tagging, and more, it might not cost you more on the whole. But some established or promotional car dealers might ask for a down payment.
- You don’t own the car; you’re simply leasing the vehicle for some time. This gives you the opportunity to easily upgrade to a new model of car in every two or three years. This way you wouldn’t have to pay more for buying new cars and end up spending very less on your upgrades as well.
- You wouldn’t have much maintainance cost. You can lease a vehicle until the term of manufacturer warranty and go for another vehicle once the warranty period ends. If something goes wrong with your car during the warranty period, the car manufacturer will take care of most of maintainance costs and sometimes they might also give out free maintainance checks.
- You don’t have to pay the entire sales tax for the vehicle because you don’t entirely own the vehicle, you’re only leasing it for a given time period. Though you might be asked to tax for the portion or timeline that you use the vehicle, it would be very less compared to the overall sales tax of the vehicle.
- If you want to upgrade to a new vehicle quite often, you might have to sell the older one through online ads in RFDTV.COM. This will take time and also cost a lot. Leasing can help you avoid such situation and makes upgrading easier and cost-effective.