What to Consider Before Leasing a Car
Car leasing is a long-term car rental proposal made by companies. The period of a car lease can extend from one year to up to five years. If you plan to lease a car, you will have to consider several factors, such as the depreciation value of the vehicle, the number of miles it will run, and its cost of overhaul at the end of the lease period. So, it is vital to understand when is car leasing a good idea so that you do not make a bad deal when planning to lease one for yourself. When is car leasing a good idea? Perhaps the only real disadvantage of leasing a car would be that you do not get any ownership rights of the asset. But then, there are ample situations when leasing can turn out to be the better option. Read on to know more. You want a low monthly payment Monthly costs are much lower when you opt for a lease instead of buying a new car. As compared to a loan that you might have to take to finance a new car, lease payments are considerably lower. As a result, you can widen your choices and even pick for a vehicle that is a higher model than what you would ordinarily buy.