Member Posts > 7 Reasons Why You Should Lease a Car
Leasing a car is very similar to renting one, except it's for a longer time frame. When you purchase a vehicle, it's yours after you finish all your monthly payments. On the other hand when leasing a car, you make monthly payments and after driving the car for a set period of time, you give it back to the dealership. While leasing won't work for everyone, it's still worth considering. Here are seven reasons why you should consider a car lease.

1. Drive Newer Cars

Everyone wants to drive the newest cars available. Well if you fall into the category of people that want to switch cars about once every three years, then car leasing might work perfect for you. When leasing a car, it means you can drive new vehicles indefinitely, just trade in your old lease every few years for a new one.

2. Pay Less Up-Front

Usually when you get a loan to buy a vehicle, it comes with a substantial down payment. But when you lease, a lot of times you can get away with no down payment at all. Which means you pay less up front in order to acquire a vehicle.

3. Drive a Safer & More Reliable Car

When you lease, it means you're probably getting a newer car which can be more reliable and safer. Newer cars have more recent safety features than older ones do. Plus, the newer the car, the less it's likely to break down and leave you stranded.

4. Spend Less on Repairs and Maintenance

Even though newer cars need fewer repairs, it doesn't mean that problems won't come up. But another advantage to a car lease, is that usually that vehicle will still be covered my warranty. So if anything does happen, you won't have an expensive bill to deal with. Plus a lot of times basic maintenance like oil changes will also be covered in your lease agreement.

5. Lower Monthly Payments

On a car lease, you pay for the vehicle's depreciation during the lease term. On a car purchase, you are paying fees, taxes, finance charges and the full price of the vehicle. So whenever you lease a car, your monthly payments will be lower than if you were to buy one.

6. Don't Have to Worry About Selling Your Car

Selling your used car is never easy. For those that hate dealing with having to sell a car, we have great news. You can skip this process completely when you lease a car. When your lease is up, simply drop the car off with the dealership. Then you can choose a new vehicle and begin another lease.

7. Pay Less Sales Tax

Whenever you purchase a car, you have to pay taxes all at once for the full value of that car. On a lease car, you pay taxes on your monthly payment instead and spread that cost out over time. Another great benefit when leasing a car is that if you own a business, you can write off the lease as a business expense, which further saves you more money.