Car leasing is “renting” a used vehicle for a certain period with agreed monthly payments. Most people prefer rental since they can easily change their car models every three to four years. Through car renting, businesses can acquire cars without spending their own money. After finishing the contracted leasing time, the lessee will have the option to either return it to the dealer or buy it for the residual value.
For most buyers, leasing a car in Los Angeles is way more affordable since it is lower than car loan payments. We all know that most of us have tight budgets and paying for expensive monthly fees affect our lifestyles.
So, why is leasing a car an affordable option? What are the advantages of leasing over buying? In this article, we will explain the top reasons why you need to lease a car. So, if you want to learn more about this topic, please join us in our exclusive discussion below.
Why Should You Lease A Car?
Car leasing offers plenty of advantages to both sellers and buyers. For buyers, leasing a car means they have fewer responsibilities than owning a brand new one. They can quickly return their rented vehicle after the contract expires, allowing them to try other models. As a lessee, we don’t have to worry about selling or improving our old car to earn money and buy a newer unit. Aside from that, we will not shoulder the possible repair cost after the manufacturer’s warranty expiration.
According to our research, 2014’s leasing average in the United States has reached 26.5%, making it the highest record as of today. The actual lease calculation is almost similar to loan processes. Usually, you will have a minimum length of 24 months to rent a particular vehicle. Nonetheless, we found a new leasing option in the market called “Flexi-lease.” It allows the buyers to rent a car for at least three months and choose to hand it back or extend the lease for another period.
What Are The Pros of Car Leasing?
You can enjoy a new car for less.
Customers who choose to lease don’t have to pay for a substantial down payment to drive a newly released vehicle. They will not also think about its depreciation since the sellers are responsible for it.
Possible buying options
If you fell in love with your rental car, you can continue using it and buy it from the seller. The price is more affordable since it is not brand new but still has the same power and capabilities.