When you’re ready to start looking for a new vehicle, you have some options. The first big decision to consider is whether or not you want to buy your next car or lease it. There are some situations where buying instead of leasing may make more sense for your needs. In many scenarios, it may be much more beneficial to sign a lease for your next car instead of purchase it. Here are seven instances where leasing is better than buying.
1. Consistent New Car Quality
There’s nothing more satisfying than driving a brand new car. There’s the new car smell, the pristine interior, and the satisfaction that you are the only person who’s ever driven the vehicle. If you love that feeling, and you want to consistently drive new vehicles every few years, then leasing is your best option.
2. Variety of Vehicles
Driving the same car for a decade can get tiresome and frustrating. Another situation where it makes more sense to lease instead of buy is if you prefer variety. You may love driving your luxury SUV for the next few years, but eventually, you’ll want to try something completely different. With leasing, once your contract ends after about two or three years, you can try out a totally new vehicle, such as a convertible sports car.
3. Low Mileage Trips
Another situation where leasing may be better than purchasing is for drivers who make mostly low mileage trips. Most lease agreements include a mileage limit, which for some drivers, isn’t going to work. While there is always the option of buying more mileage for your lease agreement, if you consistently drive hundreds of miles per week, leasing may not be right for you. Drivers who only live a few miles from work or drive a few days a week can get much more out of a leasing agreement than those who spend more time in their cars.
4. Lack of a Down Payment
Car shoppers who lack a down payment may also find some of the 2017 leasing options much more attractive than buying. When you are ready to buy a brand new car, most experts recommend you put down about 20 percent of the purchase price. Many car shoppers don’t have a large amount of cash sitting around for a big purchase, and this could increase the monthly payment cost. With leasing, you can get more car for less money each month and either skip the down payment or lower the amount.
5. High-Tech Features
Consumers who prefer leasing their cars also get the benefit of the newest features for safety and technology in the vehicle. More cars are adding impressive high-tech features to their newest models, such as parking assistance, Wi-Fi connectivity, and camera views. Safety is another area that is always seeing more enhancements each year that make driving much safer. Only the newest models get the updates each year that drivers want in their vehicles. Purchasing a car and keeping it for 10 or more years can mean you’ll miss out on all of the latest vehicle trends.
6. Luxury Vehicles
Driving a luxury high-end vehicle is a dream for many consumers, but the reality is the cost is prohibitively high. Purchasing a luxury vehicle is usually not realistic for most middle class consumers. The cost of leasing a top brand car model, with new Audi lease specials, can be much more reasonable for people with average incomes. That way, your dream of driving a fancy sports car can be a reality.
7. Regular Maintenance
The last situation where leasing makes sense over buying is with maintenance. Some drivers are terrible at keeping up with their car’s regularly scheduled maintenance tasks, such as changing the oil, rotating the tires, and replacing worn parts. If this sounds like you, leasing may not be the best plan for you. Many lease agreements require that drivers perform all of the recommended vehicle maintenance. If you are willing and able to commit to this schedule, a lease may be the perfect option for your needs.
More drivers today are looking into the different options that leasing gives them for their lifestyle. If you are trying to make the decision between leasing and buying, weigh the pros and cons for your lifestyle and choose the best deal.