Leasing 101 – Why It’s a Fantastic Option

leasing 101

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.

Why Leasing is a Great Choice at Any Age

2018 Hyundai Accent

Leasing is one of two options most drivers have when they are in the market for a new car. Here are a few reasons why leasing is a great choice for drivers of all ages from us here at Empire Hyundai.

More Car

Monthly payments on a lease are less expensive than if you were to buy a vehicle. As a result, you can get more car for your money. Plus, you always have the option of buying the car once the lease contract reaches maturity.

Easy to Upgrade

While you may be on a stringent budget when buying a car, lower lease payments can allow you to get a better car. Buying a car may have left you with few options outside of the base model, but choosing to lease could allow you to get a top-of-the-line model for around the same monthly payment.

Upgrading is as easy as turning in your old car and leasing a new one. By doing so, you’ll enjoy the latest entertainment and safety technologies, advances in engineering, and the newest designs that the industry has to offer.

Minimal Down Payment

Many lenders and dealerships require a sizable down payment when you choose to buy a car. That isn’t the case for leasing. While a down payment will help reduce the monthly payment, it often isn’t necessary in order to leave the lot behind the wheel of a newly leased vehicle.