Benefits of Auto Leasing
Leasing has become an increasingly popular way for people to purchase new cars without the obligation of owning them. Leasing a vehicle is essentially paying for a vehicle monthly for a short time, usually three to four years. Once the lease agreement has ended, you can then choose to return the car, extend the lease, or buy it outright. There are many benefits of choosing to lease over financing. Keep reading to learn more about these benefits, then feel free to contact us to learn more about our payment plans and options.
Lower Monthly Payments
Leasing a car is considerably cheaper than financing one or buying it outright. This allows you to choose a vehicle that you might not usually be able to afford. Leasing can allow you to get behind the wheel of a higher trim level than what you might’ve chosen otherwise or even that of your dream car. Visit the Taz Loans FAQ page to learn more about the loan process.
No Repair Costs, Low Maintenance
If you choose to lease a new car, there is a good chance that the manufacturer warranty should last until the end of your lease. This means that you can enjoy peace of mind, knowing that your warranty covers most or all repair and maintenance costs.
Leasing a vehicle is part of the list of eligible vehicle tax deductions. You can deduct the cost of your monthly lease payments on your federal tax return forms. This is why leasing a vehicle is an excellent option for those who are self-employed or using it as a business vehicle, as the payments can be written off as a tax deduction. Even those not using the leased car for business can save a few hundred dollars.
Drive the Latest Cars
Leasing a vehicle allows you to drive around a new car every three to four years, depending on your chosen lease agreement. This means that you can select a brand-new vehicle to ride around town every time your lease finishes. This is great for those looking for the latest and greatest cars on the market or those who want to try different makes and models before choosing their favourite.
At Lease End – Option to Purchase the Vehicle
An excellent part about leasing is the versatility. Once your lease is up, there are plenty of options. You can return the car if you’re looking for something new, extend the lease if you aren’t quite ready to part with it yet, or you can even buy it outright, with the lease payments going towards the purchase price. There’s virtually no downside!