Given that over 84% of Americans own automobiles, it is no revelation that cars play a significant role in the everyday lives of the vast majority of individuals. Numerous automobile owners utilize their vehicles for general transportation purposes such as to work and leisure activities, while other require a vehicle for work their livelihood. However, automobile ownership is not uniform throughout. There are various ways for individuals to own vehicles such as basic purchasing, financing or leasing. Although all of these methods possess specific benefits and advantages, one type of automobile ownership has been receiving much deserved attention as of lately, car leasing.
An automobile lease is a method of obtaining a new or pre-owned vehicle which involves only paying for a portion of the vehicle’s true cost as opposed to having to pay for the vehicle in its entirety. During a lease, the automobile dealership generally sets a specific number of miles allowed to be placed on the vehicle, as well the agreement duration, generally two to three years. The majority of business owners enjoy the benefits they can receive from leasing a vehicle, such as a tax advantage.
Leasing a vehicle is advantageous to individuals who enjoy driving in a new vehicle constantly. Additionally, they usually incur significantly lower down payments, or sometimes zero, as well as no up-front sales tax upon the agreement. Individuals who lease vehicles also pay a lower monthly payment opposed to financing a vehicle. Furthermore, perhaps the biggest benefit associated with automobile leasing is the low out-of-pocket expenses during ownership. The leasing individual generally does not have to pay for any maintenance costs, aside from maybe a few oil changes. This gives the individual who leases a vehicle a great peace of mind, allowing them to drive worry-free. Those individuals essentially get the pleasure of driving a vehicle during the most trouble-Free years of that vehicle’s lifespan.
Leasing a vehicle also enables the individual to drive a high-model, modernly equipped vehicle that they might not otherwise be able to afford if they financed the vehicle or bought it straight out. Additionally, those individuals do not have to worry about that vehicle’s fluctuation in trade-in value, or even experience the eminent hassle of selling the vehicle when it is time to love on. Rather, the individual would simply drop off the leased vehicle at the dealership with no questions or concerns, and obtain the … Read the rest