If you’re shopping around for your next vehicle, you may feel a little hesitant to lease a car. After all, it seems like most people are buying, so should you do the same? Actually, leasing is a really great option for lots of individuals with lots of unique situations. Don’t let that option scare you away just because it seems unfamiliar. Read on for some basic leasing 101 from Empire Hyundai and learn when and why leasing is a perfect option.
A Smart Way to Save
When you lease a car, you essentially rent it long-term. There’s still often a down payment, just like there is when you buy a new car. However, with leasing the down payment is remarkably lower. There are also monthly payments, but these payments are typically lower than those on a car loan as well,
More for Less
Since the initial and the monthly costs are lower on a leased car than on one you would purchase, buyers can use these savings to opt for a nicer, more expensive car. This is great for people who want a fancy car for work, or simply for those who want a high-end trim level with all of the available safety and technology features.
Always Stay Up to Date
A typical lease lasts around two years. When the lease is up, as long as you have not exceeded the maximum mileage or broken any part of the contract, you simply turn the car back into where you leased it. It beats the hassle of selling an old car. Plus, when you’re on a two-year rotation with cars, you can always have the latest in technology, safety, and efficiency, which means a lot to some people.