If you want the car of your dreams and you want to get it at low monthly payments, leasing a new vehicle makes a really favorable option. You get the opportunity to drive a new car that is even covered by a warranty and you get it at a price that is lesser than the cost of buying the same vehicle. Leasing the vehicle enables you to choose the vehicle and the terms of the lease.
Lease deals are attractive because you can get the car for a lower monthly payment since you are only paying the depreciation and the charges for using it, not the price for the entire vehicle. It reduces your initial cash outlay and lets you use your cash more intelligently rather than putting it towards an investment that is questionable.
Another benefit is that if you will be using the leased vehicle as a part of your job, your leasing payment can be written off as a business expense on your tax returns.
Let’s have a look at the benefits of leasing a new vehicle at a glance:
- Your monthly lease payments will be less costly as compared to the car loan repayments. The deposit for the lease is also small as it comprises of 3 monthly payments.
- The car manufacturer’s warranty will cover the lease period and maintenance costs. The road tax is also often included in the lease.
- There are no huge up-front costs, capital outlays, or car loans.
- After every two to four years, you can drive a brand new car and fulfill your dream of driving newer models.
