It actually makes sense to lease a car, despite what your parents may have said
Leasing a car has become a more appealing option in the face of soaring car prices, with the average cost now around $46,000 and 6-year loans leading to inflated monthly payments, making leases a cost-effective alternative offering lower monthly payments, comprehensive warranty coverage, and the opportunity to enjoy new car features at a comparable price to buying used.
FOLLOW A MAINTENANCE PROGRAM
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SEARCH FOR A TRUSTED MECHANIC
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CHECK THE AIR PRESSURE IN YOUR TIRES
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REVIEW YOUR SUSPENSION FREQUENTLY
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SERVICE YOUR VEHICLE AS REGULARLY AS POSIBLE
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CONCLUSION
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Leasing a car is a much better option than it was a decade ago in part due to the skyrocketing of prices in the past decade. With the average car price in the $46,000 range and with a 6-year loan, monthly prices are ballooning, and making it harder to fit into most budgets. Leases offer an ability to have significantly lower monthly payments since you are only making payments to cover the duration of the lease period to drive the vehicle.
Having bumper to bumper coverage with a lot of repairs covered by warranties, also cuts down on prices—especially considering increased technology in vehicles, and more specialty maintenance being required. Additionally, you may be able to lease a new car for the price of purchasing a used car and reap the benefits of new safety features and reliability.
● When looking to lease, having a good credit score and having flexible down payment options allow you to target your personal goals
● If your annual mileage is unpredictable, then open-end leasing may be a great choice
● For those wanting to test drive a car before doing an outright purchase, leasing can be a great way to make sure it is a good fit
