When Leasing Does – and Doesn’t – Make Sense

If you’re one of those consumers who drives a car until the wheels fall off, then leasing is probably not your best option. On the other hand, if you like the idea of driving a new vehicle every few years, owning a car that’s always under warranty and getting more for your monthly payment, then leasing just might be your best bet. When you’re ready for a new vehicle, sit down with the finance pros at any of the Chapman Las Vegas dealerships for a more thorough understanding of the pros and cons of leasing.

When Leasing is a Good Idea

Traditionally, it takes a little better credit rating to lease a vehicle than it does to buy. One of the reasons for that is the initial down payment is usually lower with a lease. That means a driver has less of a personal investment in the car and could leave the finance company on the hook for more money if the owner decides to stop making payments. If your credit is in good shape and you don’t drive an inordinate number of miles per year, lease payments can be significantly lower than traditional purchases. That means you can get the car with the upgraded stereo, leather seats and moonroof with payments the same or near a vehicle with a lower trim package.

Why Leasing is Not a Good Idea

If you drive a lot of miles, there are some steep penalties for going over the allotted mileage in a lease. There are also penalties for driving a car particularly hard and not keeping up with regular maintenance. Keeping the interior and exterior of the car nice, aside from normal wear and tear, is often spelled out in the lease contract. Although you do have the option of buying out the lease at the end of its term, generally speaking you’re better off purchasing the car through traditional financing if you plan on keeping it for a long time.

Manufacturer Lease Deals Attractive

Do a little research on the Internet before you head into the dealership to see what manufacturers are offering lease deals. Different models and trim packages can have very affordable monthly payments. Remember to check with your insurance agent before you head to the dealership as rates for leased vehicles can be slightly more expensive than those for traditionally financed purchases. The pros at any of the Chapman Las Vegas dealerships will help you understand all the different financing options available and get you the best deal to fit your transportation needs and pocketbook.

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