Leasing a new car has many advantages versus buying one, including lower monthly payments and the latest tech, according to U.S. News and World Reports Buying vs. Leasing Guide. Also, it’s now easier than ever to shop for and apply for leasing online.
Lower Monthly Payments
When you make a monthly payment, you absorb the cost of depreciation for the lease term. This expense is much higher when you buy a car, so leases typically involve a lower monthly payment. However, you shouldn’t base your decision just on the monthly payments, although finding a payment that you can afford is important. Leasing generally lets you drive a much nicer car with more options for the same payment as buying.
Latest Tech
Since leases usually last just two or three years, you probably get the latest safety and connectivity advances. It offers you the chance to get the newest car faster. A newer model has state-of-the-art safety functionality for a safer drive. Leasing also lets you enjoy driver assistance features as they become available instead of waiting to pay off a 5-year car loan.
Some of the most recent features include adaptive cruise control, automatic braking, and lane keep assistance. You can also look for leases with 4G LTE connections for Android or Apple applications. You can choose a vehicle with better fuel economy than used vehicles from a few years back.
Perks of Leasing A Vehicle
Leasing makes sense if the following perks are important to you:
- Lower monthly payments than a loan
- Ability to drive a new car within two years
- Warranty protection
- No hassles trading or selling your car
For the same make and model, the average car lease in up to 60 percent less than a new car loan payment. Driving a car that’s continually under warranty is a big perk since it can save you thousands of dollars in replacement costs if you need a new part. With a lease, no matter what happens, your vehicle is covered, so you don’t have to worry if you get into an accident.
Ultimately, there are pros and cons to owning or leasing a vehicle and you should carefully weigh them to provide a vehicle that matches your needs and budget.
Source
https://www.thebalance.com/pros-and-cons-of-leasing-vs-buying-a-car-527145
