5 Reasons to Lease a Car

Right now, at Rafferty Subaru, it is the perfect time to lease a new car. With several exciting New Vehicle Specials, you can lease a new car at incredible prices and minimal commitment. However, if you’ve been a car owner for your entire life, you might be wondering why you should give leasing a car a try. Take a look at some of the reasons why leasing a car could be the right option for you.

 

Five Reasons to Lease a Car

There are lots of perks to car ownership, but there are arguably even more perks to leasing a vehicle instead. Here are just a few of the reasons why leasing a car is a good choice.

  • Endless Variety. The reason that most people choose to lease a car is because they enjoy the freedom of being able to try new and different cars frequently. Not only does this mean that you get the opportunity to try out different models, but it also means that you can always try out the latest technology, styles and features. 
  • Less Break Downs. Driving the same car year after year wears it out over time. Sooner or later, you’ll start experiencing problems with your car that require expensive repairs and maintenance. However, leasing new cars means that the car you’re driving is always in tip-top shape. This means fewer break downs and less hassle with maintenance. 
  • Warranty Coverage. Similarly, leasing new cars almost always guarantees that your car is covered by its warranty. As a result, even if something does go wrong with your leased car, you’ll be able to get it taken care of at little to no cost. 
  • Cheaper Than Financing. When you lease a car, you make monthly payments in exchange for the right to drive the vehicle. These monthly payments are often significantly cheaper than the monthly payments you’d make to purchase the same vehicle. Consequently, it can be significantly less expensive to lease a particular vehicle than it is to buy the very same one.
  • Never Worry About Trading or Selling. When you’re ready to get rid of a purchased car, you have to figure out the logistics of selling it or trading it in. It can be a real headache. That, of course, is not the case when you lease a car. When leasing a vehicle, you never have to worry about what to do with the it at the end of the lease term. Simply return the car to the dealership and be on your way.

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Why Should I Lease a Car Instead of Buy One?

The benefits of leasing a car are convincing, but maybe your still not quite convinced it’s a better option than buying. Let us help clear the air. There are plenty of reasons why leasing a car is a better option than buying.

  • Lower Down Payment. Whether you lease or buy a car, you’ll have to make a down payment. However, you can make a down payment on a lease agreement at just a fraction of the cost of a down payment on a purchase. A smaller down payment is just another way that leasing a car can be a more affordable option than buying.
  • Better Tax Benefits. If you use your car for business, the tax write offs are better on leased cars. For businessowners who have purchased the car, there is a limit to how much you can deduct per mile on your taxes. However, on a leased vehicle, you can write off up to 100% your lease payment for every mile driven for business purposes.
  • Don’t Worry About Depreciation. It’s no secret that a car’s value depreciates over time. When you own a car, you also end up owning the loss in value as you use your car day in and day out. On the other hand, when you lease a car, you there is no risk of unpredictable circumstances that cause the value of your vehicle to depreciate more than anticipated. Instead, you’re protected from unexpected future loss.
  • You Can Always Buy It Later. Maybe you’ve just leased a car, and you just can’t bear to part with it. That’s okay! Many lease agreements include an option to purchase a vehicle after the leasing period has terminated. The benefit of leasing instead of buying is that the flexibility to make that determination is in your hands. There’s no long-term commitment unless you want there to be one!

 

Have more questions about leasing a car or think it might be the right choice for you? Come down to Rafferty Subaru, and we can help you make the right decision for your lifestyle.

Categories: Finance
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