We all dream of driving ourselves to work or our kids to school. With a car, you can go anywhere with ease. However, most people are limited to driving themselves due to finances. Financing a car loan is not affordable for everyone. You may also not be in a financial position to finance your dream car. This is no longer a problem as you can now lease your favourite car.
What is car leasing?
Car leasing is not a new thing. However, it has gained popularity over the last few years as there are more dealers and brokers offering cars for leasing. As the name suggests, leasing a car is like renting a certain car for a period of time. You sign a contract with the dealer that you will be in possession of the car for a certain lease period. Once the lease period expires, you are required to return the car back to the leasing company.
Is car leasing a better option than buying?
There are reasons why you don’t have a car. These challenges are solved when you lease a car. Here are some of the reasons why leasing is your best choice to get your first car.
Leasing a car is cheaper than buying
First, the down payment for a lease contract is lower than when buying a car. The main reason is you are not buying the entire car, but its services for a period of time. The monthly instalments are also lower when leasing than buying. The monthly instalments are calculated based on the period of leasing and the value of the car after depreciation at the end of the lease period. Make sure that you compare quotes from different dealers to get the cheapest lease deals.
No maintenance and repair costs
When you buy a car, you have full responsibility for maintaining the car. No one helps you when the car needs repair. This is very different when it comes to leasing. A leasing company owns the car. It is the responsibility of the lessor to maintain and repair the car. By leasing a car, you avoid these costs as the car is covered by a warranty.
You are privileged to drive a new car always
Why stick to an old car when you can drive a new car every 2-3 years? There is no economic value in owning an old car for years. By leasing a car, you can return the car after a few years and select a new one. This option is best when you lease a business car.
You won’t worry about its resale value
Vehicles depreciate very fast. Finding a buyer for a second-hand car can be a big challenge. This is one reason you ought to lease rather than buy a depreciating asset. Remember, all you want is the comfort of driving your favourite car. Ensure that you have the best by leasing your favourite car.
Based on the above reasons, it is evident that leasing a car is better than buying a new or second-hand car. Choose a leasing company and select your favourite car to get a car today.