Many people dismiss the idea of leasing a car because they think that buying is better. After months of payments, when you buy you get to keep the car. With a lease, you never own the vehicle, but in some cases, that can be a plus. Here are some reasons why leasing a luxury vehicle could be worth it for some lifestyles and budgets.
1. You get more car for your monthly budget.
Some people who like the idea of driving a luxury vehicle don't ever get the chance to do it because they feel like the price of purchase is too far out of their budget. Leasing rates, however, are typically lower than financing rates, so you have a chance to drive a nicer car for the same money as you were planning to spend on a car payment. For some careers and cities, the increased luxury of driving a nicer car is worth the lease price.
2. You don't have to worry about basic maintenance.
Because the car is technically still owned by the dealership, you don't have to worry about the cost of maintenance. Most dealership leases cover basics like oil changes, tires rotations, and other fluid changes, so you just need to make sure you bring the car in when service is due. And, of course, should the car malfunction, you aren't on the hook for expensive repairs. Only new cars are leased, so they are under manufacturer warranty.
3. You don't own the car.
For some people, not owning the car is actually a good thing at the end of the lease. For example, a senior who wants a nicer car but doesn't want to worry about caring for an aging vehicle may enjoy the trade in, where they simply upgrade to a different new car at the end of the lease. Dealing with a consistent lease price each month is easier on a fixed income than having to foot unexpected expensive repairs as a car gains both years and mileage.
4. You do have the option to purchase later.
If you don't have the cash or ability to buy a car outright, you might like the flexibility of a lease. At the end of the lease term, your financial situation might change, or you might like the car so much you're willing to take the plunge and buy the car outright. Either way, the lease gives you more time to make a choice.
For more information on leasing a car, contact a local luxury car dealership.