Friday, November 15, 2013

Benefits of Leasing a Car

Leasing a car offers many benefits and an attractive alternate to buying. Leasing is one of the best options for the people preferring to drive a new car. In this article, we will have a look at the potential benefits of leasing a car.

Benefits of Leasing a Car

1) Driving a brand new car

Leasing let a consumer to drive a new and latest model car. This is obviously beneficial as it allows a person to keep up with industry's hot and trendy car. Moreover, driver can benefit from advanced safety technology. New car need not make you worry about maintenance and repair. See to it that cars lease period is shorter or equal to warranty of car.

2) Less outflow of cash
Leasing a car attracts many buyers as they get to drive a brand new car for very less initial payment. Moreover, people get a new car for lower monthly payment. Leasing require you to pay only the depreciating value of the car and not the entire vehicle's price. Other benefits of leasing a car include. If you use the leased car for the business purpose, lease payments can be written off as a business expense.

3) No hassles for selling the car
When you lease a car, you can eliminate the headache of selling the used car. When your leasing period ends, you can simply give your car back to the company and walk away, unless you buy or trade it.

4) Fewer maintenance headaches/No repair issues

Since the car you lease is brand new, there is no chance of repair and maintenance issues, as mostly the car remains to be under manufacturer's warranty for entire lease period-major financial advantage. Many of the lease agreement covers gap insurance, which a regular insurance do not have. Gap insurance means that the lessee will not be responsible for the remaining payments.

5) No long-term commitment
Leasing a car is beneficial to people especially to those who know that they will need a car for a limited period. For instance, people who are expected to move every year or every few years for their job may like to opt for leasing a car rather than buying a car. Buying a car for such people will involve hassles of moving and re-registering the car for each new place or location.

If you consider above points, leasing a car is the best option for you.

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