The Pros and Cons of Leasing Your Next Vehicle

The Pros and Cons of Leasing Your Next Vehicle

Since leasing has become a popular choice among vehicle owners in today’s day and age, you are probably thinking of trying it out for yourself. If you are looking to buy your next vehicle and think leasing is a good option, it is always better to know all possible upsides and downsides of the choice. In order to give you better insight on the plus and minus of leasing, here are a few facts and pointers which might just give you a heads up on your leasing decision.

For the Love of Cars

If you love driving around in shiny new cars and the latest models that brands have to offer, leasing may just be something that you will fall in love with. The power of leasing literally lies in giving you a sweet new ride whenever you wish to have one, solely according to your fancies. Since you obviously can’t afford to do so when you buy a car, this option gives car-lovers a great opportunity.

Zero Maintenance Worries

If your car needs repairing or you are experiencing certain part-related problems, you don’t have to worry about the expense that you might have to splurge on getting your leased car fixed. Since the car is covered fully with a manufacturer warranty, your dealer can take care of any internal maintenance or even the servicing and oil changes, without you having to pay a single penny, unlike when the warranty of your bought car ends.

Tax Benefits

If you are leasing a car for your own business or you want to lease it in order to aid your small business, you can write-off the lease as a business expense. This will give you a big advantage of a tax deduction, leading you to save a lot more money. This gives you an additional advantage over buying a car and paying a lot more on monthly installments.

Damage Checks and Costs

There are also a few pitfalls in the process of leasing which you have to keep in mind. In case the car you have leased is not in perfect condition as it was before, you are expected to pay for the damage. This amount can really cost you a lot, even if there is a single scratch on the body or the interior of the car.

The Final Deal

Once you sign the deal, you cannot get out of the agreement midway. Whether you are moving to a new location or simply want a break from leasing, you are liable to pay the entire lease amount and you cannot break the contract. If your car is stolen or totaled after an incident, you are still liable to pay the entire lease amount, plus whatever charges there are.

It is obvious that the leasing process comes with its problems, but if you can look past these as minor troubles, leasing can be a great option for you. If you feel that the positive points outweigh the downsides, find a dealer that suits you the best and get leasing!