You want a car. You know exactly what features you want down to the color and model of the vehicle, and after reviewing your finances, you believe you’re ready to purchase one. Before forking over a serious amount of money, however, you might want to review other options that would allow you to drive without having to endure a big blow to your pocket. One of these options is car leasing, and here are three reasons why it might be so much better than purchasing a vehicle outright:
Payments Are Generally Lower
Compared to buying a vehicle, leasing one often presents lower out-of-pocket costs and down payments. In addition, a lease is usually easier to get than a car loan, and monthly payment can be more affordable too.
You Can Change Models Every Few Years
For those who prefer not to stay with one model for decades, leasing terms give them the flexibility of exchanging cars every few years depending on the duration of the contract. This means nicer cars and the opportunity to upgrade if you eventually want to try out other models.
Car maintenance can be pretty expensive, and some damages may not even be covered by insurance. Leasing comes with warranties for up to three years, making maintenance virtually free compared to drivers who own their vehicles.
Driving is a necessity in Australia, but making a big financial decision to purchase a car, take the time to explore other smart options such as leasing one.