When Does it Make Sense to Lease?

By Garber Fox Lake Toyota | December 15th, 2018

Car financing may be a popular option for many, but is it the right option for you? When does it make sense to lease over buying a car? You might be surprised! Modern drivers value flexibility and value more than ever, and leasing a car might be the perfect solution to your unique circumstances. Take a look at some of the most common leasing scenarios below, and see if you would benefit from this versatile solution.

Business

Do you have a business of your own in Waukegan? If you need a vehicle, you’ll find that most experts recommend leasing a car over buying one. This is much easier to handle from an expense perspective, and you might even get better tax deductions from a lease deal. Additionally, leases tend to be less expensive. That means you’ll have more capital leftover for the other aspects of your business life!

Budget

Are you on a tight budget in Libertyville? You might get more bang for your buck by choosing a lease over car financing. A lease is calculated with depreciation already factored into the price, which means you pay less money up front. That means a smaller downpayment and smaller monthly payments. And if you’re a lover of luxury, you can save a ton of money by opting for a lease. Because luxury models have such high residual value, dealerships can sweeten the pot on a lease deal over a loan. Take advantage of this fact if you’re looking for an upscale ride!

Short-Term Use

Are you moving from Lake Geneva, WI for a short-term work assignment? Or do you just like upgrading to the newest technology every few years? You might prefer the flexibility of a car lease over car financing. When you purchase a car, you need to keep it for a long time in order to see real financial benefits. When you lease a car, you get the benefit of lower costs up front and the ability to upgrade to a new model with no strings attached. If you don’t want to be tied down by a long-term commitment, then a car lease is a better choice for you.

Find Out More about Leasing vs. Buying

Want to know more about leasing vs. buying before you pick out your new car? Contact us at Garber Fox Lake Toyota with any questions, and we’ll get back to you promptly.

Posted in Financing