The truth is, many people do not know the real financial benefits of leasing a vehicle and ultimately resort to financing a car instead. D&M Auto Leasing has narrowed down the top reasons why leasing a car makes the most financial sense in 2020.
Reason #1- Lower Monthly Expenses
Overall, monthly expenses are typically lower when leasing a car versus financing. The monthly payments on a new lease is often lower than traditional financing. With a car lease, you are only responsible for paying a portion of the cars value rather than obligated to pay for the entire value. In most cases, well-equipped vehicle lease specials are less expensive than financing a lesser equipped new model or pre-owned vehicles. Used car leases are especially attractive for those looking for exceptional value.
Reason #2- Little to No Repair Cost
The manufacturer warranty can cover a fair amount of maintenance and repair expenses during the term of the lease. Unlike financing a vehicle, the manufacturer’s warranty is typically the same length as the lease term. The warranty outlines the coverage responsibility on the manufacturer. This added benefit with new car leases can lower or eliminate wear certain unexpected repair and maintenance costs.
Reason #3- Get a New Car at Lease End
No more worrying about researching the vehicle value and looking for a seller for your existing car. At the end of your lease term, take your car back to the leaseholder and trade in your vehicle for something different. A financial benefit with car leasing is the ability to drive the latest vehicle at a lower payment and shorter lease term.
Reason #4- Tax Benefits of Leasing a New Car
Business owners and employees may qualify for a tax advantage if they are using their car lease for business purposes. Monthly payments, maintenance cost, and mileage may count towards your tax deduction. D&M Auto Leasing offers various special lease programs for businesses.
Reason #5- Low Mileage Vehicles
Low mileage drivers experience a financial benefit with leasing as well as high mileage drivers. Low mileage drivers have lower wear and tear and greater trade flexibility. High mileage drivers depreciate a vehicle more quickly and are exposed to the extra liability that comes with heavier use. A lease limits this liability and manages the trade cycle by properly depreciating the vehicle. Call D&M Leasing to find out about low mileage lease savings, high mileage lease management and ask about our Mileage Forgiveness Program!
Summary
The combination of leasing benefits above is why car leasing makes more financial sense overall. With a car lease, you are opting for lower monthly payments, manageable maintenance and car related expenses. At D&M Auto Leasing we want to help you get a car lease that meets your needs and fits your budget. We are here to listen to your needs and help get you the latest model of your favorite vehicle.
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