What Are the Benefits of Leasing a Vehicle Over Auto-Financing?

You have finally decided to buy the car of your dreams. Everything is finalized, from model to color, and accessories that you would want in your car. However, the major decision is based on your financial standpoint. Do you have the finances to pay in full by cash or are you looking for financing options and have you applied for one?

If you have saved enough to pay for a brand new car, Congratulations! You are welcoming a new asset in your life. However, if you are looking for financing options, you can think about leasing the car instead of buying it because of the high interest charges that financing a car would have to bear. 

Leasing is a cheaper way to ride the cars that you have always dreamt of driving on a beautiful highway with your friends. It has many advantages over financing that we will discuss below. 

The first step to leasing is to find a reliable expert service that can help you in finding the right deal for the car you want to drive on the road. Lease A Car Direct can help you to lease or buy a car in Boca Raton, Florida. You need not run here and there for making all arrangements and bargaining with possible dealers. Their experts are best at bargaining the dealerships and bringing them to the bottom line. 

Advantages of auto-leasing over financing

  • You pay on the depreciation amount and not the entire price of the vehicle:

  • As compared to financing where you pay the whole amount and interest charges, leasing rates are much lower because you are paying on the depreciation amount. 
  • Every car has a different depreciation rate and if you choose one that has a depreciation value of about 20% every year, your monthly payments will be much lower. 
  • The emergence of new models and technologies causes higher depreciation rates in many luxury cars and thus these cars lose residual value. Thus the resale value of your asset would be much lower if you opted for financing.
  • You can try a different car brand or model every time your lease ends:

  • You cannot buy a new car every time a new model comes out in the market that is more attractive than the one you already own. 
  • Leasing takes care of this problem well. 
  • After every lease period, you can choose a new model or a different brand altogether. 
  • Thus, leasing a vehicle presents more opportunities in terms of variety than financing. 
  • Leasing lowers down overhead costs significantly:

  • Most lease terms come with a warranty that covers repair costs of the car during the lease period. 
  • You only pay a small amount for the maintenance of the vehicle. 
  • This is not true with financing where all repairs or the insurance premiums are borne by you. 
  • Leasing is an easy way to boost your credit score:

  • If you sincerely pay your much lower monthly lease payments, you would give your credit score a good boost. 

Why settle for one car when you can try your hands on a new one after every few years. Plus, leasing is easy in your pocket. Try leasing a car through premium services and make a good bargain with their help.