Overlooked Conveniences of Leasing: Scenarios to Recognize
Leasing provides an inexpensive way to get a new car and drive it for 2 to 6 years. But leasing isn’t just economical. It’s also convenient in ways we don’t usually notice. Here are some reasons it’s convenient and some scenarios in which leasing can be especially advantageous.
Taxes and fees are rolled into the monthly payments, providing advantages for anyone who wants a medium-term ride.
What if you want to give a certain kind of car a try or just drive something for a few years? Say you’ve always driven sedans but you want to try an SUV. You have a few options.
1. You could rent an SUV for a weekend but you wouldn’t really get to know the vehicle in that period of time and you’d spend too much money renting it long term.
2. You could just buy an SUV with the possibility of selling it soon. The problem with this is the taxes you’ll pay. Most of the time, lessees pay off their taxes monthly because they’ve been added into the monthly rate. If you decide you want to purchase your vehicle at the end of the lease term, you will have paid a good portion of your taxes, probably all of them. On the other hand, you will have to purchase a new license plate if you buy the car at end term. That will be less expensive than taxes, of course ou acheter du viagra sans ordonnance.
You can treat leasing like a speculative investment. (Just as you can when you purchase)
Many consumers think of leasing as a deal that is pre-arranged, requiring no negotiation or choices. That couldn’t be further from the truth. Everything is flexible and negotiable when you lease. Drivers should negotiate the sale price of the vehicle before calculating and reviewing monthly payments with the dealer.
Just as the rate and conditions of the lease are negotiable and/or flexible, so are your choices at end term (the end of the lease). Lessees can usually sell their car to anyone at that time, even sell it before that time. Some of them seek to make a profit or break even and cover their interest and fees.
To find out if you have equity (value that belongs to you) in your leased vehicle, you can utilize a number of online appraisal tools to find it’s market value. Find the residual value in your lease contract and subtract it from the market value. The result will be the equity you will be able to attain if the market value is correct and applicable to your region.
Keep in mind that some lease contracts don’t allow a sale of the car. Make sure yours does if you want to give this a try.
Leasing provides flexibility and options. Convinced leasing is for you? The next step should be getting quotes.
