Most people only think about the shiny new car they can lease and the exhilaration of driving that baby down the road. However, few people consider that there are some negatives to leasing that should be seriously looked at before signing on the dotted line.
As we’ve mentioned before, the greatest benefit to leasing a car is you can afford the newer models. This is often because you’re only paying for a fraction of the cost. There are also some other great reasons to decide to lease:
- Access to the latest auto and safety innovations.
- Great if you move often and can’t take your car with you.
- After a few years, you’ll be able to move on to a new vehicle again.
Unfortunately, every coin has a flip side. Leasing does offer many good opportunities, but you need to fairly consider the down side too.
- You may still need a down payment or co-signer.
- There is a very strict mileage limit; going over can cost you heavily.
- There is also a ‘wear and tear’ limit. Read this part of your lease very carefully and know what the dealer considers to be excessive or you could pay big time.
- At the end of your lease, you don’t actually own the vehicle; you have to give it back to the dealer.
As We See It
Leasing has a lot to offer, but it’s not for everyone and that’s okay. The good news is that whether you choose to lease or choose to buy, you’ll start the process of rebuilding your credit as long as you make payments on time.
Here at Auto Credit Express we can help you with the most important factor: choosing the right dealer. Take a few minutes to complete our piece of cake application. Soon you’ll be on the road in a sleek vehicle that will turn heads up and down the street.
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