How to Approach the Car Lease Process
Is Leasing Right For You?
If you are in search of a new or additional vehicle for yourself and your family, you may find yourself wondering if you should buy or lease that new car. Buying a vehicle is a commitment that requires long-term financing or a lump sum of cash. Another option that may be attractive to you is leasing. Leasing gives you the peace of mind knowing that you have a vehicle that is always under manufacturer warranty. Which means no surprises on the side of the road. Let’s explore the process of leasing a car.
What Is a Car Lease?
A car lease is like having a utility bill in your home. In essence, you are paying monthly and transferring the risk of ownership to the manufacturer for a monthly payment. The term of a lease is usually three years, and at the end of that lease, you can decide to get a new model with all of the latest and greatest technology and safety features. You can also turn in the vehicle and that’s it, no more car, no more payments. Leasing has become a favored option with many of our customers. AutoSearch USA is happy to discuss why leasing may be a possible option for you.
Benefits of Leasing a Car
There are many attractive advantages of leasing a car rather than buying it, especially when you consider the monetary factors. When you enter into a lease of a vehicle, you will be able to take advantage of the following advantages that leasing has over buying:
No down payment or fee to drive off the lot
Lower monthly payments
No repair costs
Up-to-date safety features
Latest technology upgrades
No long-term commitment to the same vehicle
Always under warranty (usually three years or 36,000 miles)
No surprise costs of ownership
These are benefits that you will not be able to enjoy if you decide to buy a car. Usually, the monthly payment is higher. While you may be able to put as many miles as you want on a vehicle you have purchased, those miles also come with the more advanced and long-term maintenance issues that you avoid with a lease.
Is Leasing a Vehicle Right for Me?
For many individuals, the most exciting part of leasing is that you get a new car every 3 years! If you are someone who enjoys the newest technology and auto design features, leasing is definitely an attractive option. Leasing also lets you plan how much you are spending on your vehicle over a long period of time with great certainty.
Let me explain with this simple math equation. Purchase a $31,000 car with no money down and finance it for 60 months. That will be payments of $628 and equal about $37,800 over 5 years. It will also be increased by unexpected repairs and long term maintenance like tires. Now, lease a car for $350 per month for 3 years, you will spend $12,600. If you lease 3 cars over 9 years it will equal about $37,800! $12,600 x 3 = $37,800. No surprise repairs, no long term maintenance.
Contact Our Expert Auto Brokers
If you are in search of a new car and are considering a lease, contact AutoSearch USA. We can help you decide if leasing a vehicle is the right option for you. We want to find you a car that meets your needs and financial situation. We work to ensure that the process is as easy and stress-free as possible for you. As our client, you shouldn’t have to deal with pushy salespeople or stressful paperwork. Contact us today to learn more about the leasing process, our mission, and how you can get the car you’ve always wanted without any of the stress.