Benefits of Leasing
Ready to soak up
some leasing knowledge?
Most shoppers don’t pay cash for a new car, so you’ll need to decide how
you’re going to finance it. While many people take out a car loan, leasing is
another option for new car financing. Should I lease or buy? There is not a “one-size-fits-all” answer to this question. There are lots of advantages to leasing that make it the right choice for
many people. When you lease, you can drive a new vehicle every few years,
typically for a lower monthly payment. Of course, despite its advantages,
leasing isn’t right for everyone. Here are some benefits of leasing to help
you make a well-informed decision.
Leasing 101
When you lease a vehicle, you drive that vehicle for a specified amount of time, paying only for the value that you intend to use, instead of financing the full purchase price. Most people make monthly payments throughout the term of their lease, but you can also make one single payment for the full amount at the beginning of your lease or lease inception. At the end of your lease, you have the choice to return the vehicle and lease or purchase a new vehicle, purchase your current vehicle, or return the vehicle and walk away.
While there are many benefits of leasing, including those listed below, leasing may not be the best option for your driving needs. If you do a lot of driving around Chino and Covina, financing the vehicle may be the better option for you. When you lease, you must adhere to set mileage limits. Exceed those limits, and you will have to pay a penalty. If you are looking to customize your vehicle in any way, financing is once again the way to go. Because you are returning the vehicle back to the dealership when the lease is up, it will need to be kept as close to factory condition as possible. The dealership will then resell the vehicle as part of its used car inventory. However, if you do not plan to modify your vehicle and are only using the car for short drives around Pomona, leasing can be an outstanding option.
Ready to take the next step?
Now that you have an understanding of leasing and its advantages, you can better evaluate whether leasing is the right call. Our goal is to make sure you have every bit of information you need to make the smartest choice for you.
Visit our lease specials page and view some of our current offers or fill out the form below to have one of our leasing specialists call or text you. We would be more than happy to answer any questions about leasing vs. financing. We want you to feel 100 percent confident with your choice. Contact us today for more information.
