When you want to buy a new car, you need to establish a budget. What happens when you don’t have all the money you need? In the past, most people would have chosen a car loan, which is pretty simple to obtain and quite straightforward. However, car leasing has recently started to gain more and more attention. Car leasing has now grown to be a very popular option, even though there still are people who don’t know much about it. Are you one of those who don’t know much about car leasing? Would you be interested in finding out its pros and cons? Well, we are more than happy to help you.
1. A car bought in leasing is usually a late model vehicle, so you’ll always manage to keep the pace with the changes.
2. You will drive a brand new car, so you will get to enjoy it during its most trouble free years.
3. Since the car is brand new and a late model vehicle, the warranty is still covered by the manufacturer, which means that you will benefit from scheduled maintenance for free, as well as free oil changes.
4. You will have the advantage of driving a better equipped, as well as higher priced model than you could have ever imagined.
5. When it is time to move on and get a new model, you don’t have to worry and invest time in selling it and you don’t have to bother about fluctuations in which concerns the car’s value.
6. If you are a business owner and opt for a leased car, you will benefit from financial advantages.
7. When the lease is over and you plan on getting a new car, all you have to do is to drop the old one off at the dealer.
As you can see, there are numerous pros that come with a car lease, but cons are also involved. See them below.
1. The lease will cost you more than a loan if you add up all the months.
2. Some lease contracts specify a limited number of miles.
3. You will have to maintain the vehicle in a good condition; otherwise, you will have to pay extra under the form of wear-and-tear charges.
Yes, there are pros and cons that come with car lease and the best choice is always the one that best suits your needs and preferences. If you still don’t have a clear picture about what the best solution would be for you, check out this magazine and find out what professionals have to say about this. New Cars Portal is an online magazine dedicated to those who are passionate about cars. If you want to check out reviews of the latest models, news on redesigns, launches and get information on how to get a loan or what a lease implies, it is in the pages of New Cars Portal that you will find all the details you need. Check out this online magazine as it is thanks to it that you will gather some very useful information.