In today’s society having a car is almost a necessity. There are two options to having a car, buying or renting. While renting an automobile is not for everyone, it may be beneficial to you. There are a few advantages as well as disadvantages to vehicle leasing.
One advantage is lower monthly payments. Since you are not purchasing the car you only pay for the part you use. As with everything else there may be restrictions that apply. The disadvantage to renting is that you will not own the vehicle at the end of the contract.
The monthly payment is lower and in most cases there is no down payment required at the time of lease, usually just the first months payment and the cost for taxes and tags. The disadvantage to this is that you will always have a monthly payment.
Little to no maintenance costs. Most lease terms are only for two to three years, so the manufacturers warranty is still in effect if something goes wrong. A disadvantage for this would be that most leases generally only allow a certain number of miles per year, and if you go over that amount you will have to pay additional costs.
You will be able to drive a new car every two to three years because lease terms are generally only that long. There will be no trade in hassles because you do not own the vehicle. Once you lease a car turning one in for a new one is fairly easy.
There are many things to consider when car leasing. It really is what you prefer and what fits your own needs. If saving money is important and owning a car that consider renting. If you do not drive much and you are sure you will be able to stay under the allowed mileage this might be the option for you.