1. There are lower monthly payments when leasing vs financing a car
2. Low maintenance and repair costs
3. There are no Hassles with Used cars
When the period for the lease is over, you don’t have to worry about the used car. That you simply do is you return the car back to the leasing company. You don’t have to struggle to try to sell the car. Here, the value of this car will not be your problem, You simply have to return it to the leasing company and they will know what to do with it. In some instances, there are some leasing companies which overestimate the car’s value which, in turn, results in a cheaper lease payment for you. This is usually a major loss for the company but you have benefited in return. Here, you simply don’t have to worry about anything.
4. There are Tax benefits
If you want to use your car for your business, then you need to write off the ease payment such that it appears as a tax deduction. Moreover, if you don’t have a business, there are some states which will only tax you on usage parts of the lease. This only means that you will not have to pay taxes fully for your vehicle. If you are leasing vs financing a car, you will be able to save some money here and there and in turn, invest it somewhere else. Taxes can be frustrating at some point and if you want to save your money, then you need to consider leasing your car.
5. Get the benefit of driving the latest cars
For sure, this is the main benefit of going for a lease for the car. Imagine driving the latest car in the market without struggling? If you really love cars, then you will enjoy this. You can go to your company and select the latest car on the market. At a monthly fee, you get to roll with the car of your dreams without struggling. Who will not want this? The benefit of leasing vs financing a car on a shorter term means more access to latest technology which provides better fuel economy, safety features, and lower insurance payments. The best part of it is that you are all covered and you get to pay a monthly cost that you have agreed upon with your company. Many people are doing this. You will find someone driving the latest Ferrari and you will be like, How did he afford this? Well, the truth of the matter is that they might have leased it.
6. There are more choices for vehicles.
When leasing a car, then you will not have to worry about the quality of the car or reliability. This is because you will only be driving it may be for the next 2 or 3 years. This is important because you can drive even the cars that you will not necessarily buy in the future. You can still choose a variety from them and there is no limit to this. If you don’t like a car because of how it looks or functions, then you will not buy it necessarily. What you do is that you have many choices that you can select from. Here, you not only drive the best car but you also have the best experience as a car owner. If you want to learn more about leasing, complete Conquest’s match making form to find out how we can show you more choices for your next vehicle.
7. The best if you are prone to Accidents
When you buy a car and wreck it in the driving process, then the insurance company will pay for the damages by when the time comes for you to sell it, then it will have diminished in its value. This will be a big loss for you. No one will be willing to buy that car for your gain unless you sell it at a loss. However, when you lease a car and wreck it, the insurance company will take care of it, but when that time for you to sell the car comes, you will not have to worry about selling it rather, it will be the leasing company’s problem.
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8. You take control of your monthly spend on the vehicle
When you lease a car, you will be able to know the costs and expenses that are going to cost you because they are combined into one. These include fuel and insurance. They all put under monthly payments, breakdown cover, and also Road Fund License. This enables you to budget well and thus avoiding overspending on the vehicle.
9. You Enjoy the latest Features in Vehicles
Who wouldn’t want to enjoy the best features in the best vehicle? None. Because you are cruising around in the latest model, then be sure to enjoy the best and latest features in the new catch. These include the latest technology which has been introduced by car manufacturers. There are some recent additions in vehicles such as Autonomous Emergency breaking which prevents crashes to a larger extent. Furthermore, there is a mirror link which matches the smartphone and the car. These are good features that you get when you lease the car at a monthly cost. Why then struggle with saving lots of money to buy a car if you can still get it for free and pay less monthly?
10. Has a GAP coverage
Most of us are not always lucky. Sometimes you just buy a car and enjoy it in the short run. The next time you will be out there crying because someone has stolen your car from you. Well, when you lease a car you don’t have to worry about these. They got you all covered. GAP coverage is there for you if the car is destroyed or stolen from you during the lease period. This is easy for most people because you will not always be lucky. Sometimes it’s good to be prepared because you don’t know what will happen in the future.
In summary, leasing vs financing a car is the best thing you can do in Canada. There is also a growing market of lease takeover marketplaces to help you get transfer out of a lease if you don’t want to keep i for your full obligation. As you have seen, leasing has so many advantages out there. You are sure to drive the latest car, you don’t have to worry about insurance, you pay a monthly fee and you can still budget well on your money. This is the best way to enjoy using a vehicle.