Many people consider owning a car a luxury. This, however, doesn’t mean you shouldn’t enjoy the spoils of the little money you have by driving the car you have always admired. Although buying a new car may be too expensive, leasing the same is more affordable and manageable. Renting a car, however, isn’t foolproof for there are limitations and cons that you should know before signing the SPECIAL OFFERS of lease. Outlined below are some of the main advantages and disadvantages of leasing a car.
Lower lease payments: Monthly lease payments are considerably much lower than a car loan repayment. The beauty of this is that you can choose to rent a more expensive car than you would afford to buy.
Get a new car every few years: Leasing gives you the privilege to drive a new car without incurring any additional costs. You can drive a new car every year if you want to. Driving most of these cars can also help you decide on the best car to buy when ready to have one.
Hassle-free: The negotiations and paperwork involved when buying a new car are eliminated when you lease a vehicle. All you have to do is sign the contract documents, and are ready to go.
Endless payments: Unless you only need the car for a few months, leasing a car means you have to pay for the same each month. This can be quite tiring on the long run.
Mileage restrictions: Most car leasing companies put a mileage limit on their contracts. Don’t be surprised to see a 12000-mile restriction on all cars.
Penalties: You are solely responsible for all the wear, tear, and anything else that happens to the car. This can be quite a bummer for the less than careful drivers. Damage penalties are also much higher than if you were to cater for the repairs yourself.
If in need of a car for the short-term (say less than two years), leasing one will be more beneficial than buying a new car. Leasing also gives you varieties and is much cheaper.