You might ask yourself, why lease a car instead of buying one? After all, isn’t ownership the end goal of payments? Well, no, not really – cars are all about the experience of driving, and with leasing you’re able to drive a better car for less money and with less hassle.
There are several other good reasons as well that leasing your next car is a better option than financing. For instance, when you lease a vehicle you have the option to upgrade your vehicle every two to four years; you pay taxes on the monthly payments, instead of the full price; the car doesn’t depreciate in value as rapidly as a purchased/financed car; and you get a great deal on car insurance.
When you lease, you don’t have to settle for the same, mid-range, standard vehicles, devoid of any bells and whistles. There are several 2018 luxury cars that you can lease for low monthly payments, including the Mercedes Benz C-Class, the Audi A3, the Genesis G80, the Lexus GS, the Volvo S60, and the Jaguar S5 – and that’s just to name a few!
If someone told you that they just leased one of the new 2018 luxury cars for less than one can purchase a mid-size economy car, you would probably just chuckle and write the comment off as an error. But it’s true: you can lease a car like the 2018 BMW X3 xDrive28i for less than it costs to buy a Honda outright. Think about which of those cars you’d rather hit the streets in! As mentioned, having a car is all about the experience of driving, so it should be a no-brainer that leasing a new BMW is better than buying an old Honda.
How do you lease a car? Well, if you live in the Toronto, Vancouver or Halifax areas, you can get a really good deal leasing a pre-owned luxury car for much cheaper than it costs to purchase one; all you need to do is get in touch with a luxury car dealership and chat with their representatives about what lease works best for you. Talk through different options and come up with a car and term that suits your life and budget – you’ll probably be surprised the quality you can afford.
And what should you look for in a dealership? For one, find a dealership that’s flexible about what happens when the lease term is up. At the end of the lease term you might decide that you want to keep your car, purchasing it for the residual price (people do get attached to cars sometimes) so having a certain amount of flexibility in a lease can be really important. Also, when looking to lease a luxury car, look for a dealership that offers in-house administration. You don’t want to rely on third-party lenders, who often inflate their prices unreasonably, and using a dealership with in-house capital allows you to circumvent that hassle.
So, next time you are in the market for a new (or pre-owned) vehicle, look into leasing. You’ll be pleasantly surprised to find out just how far your dollar stretches when you lease, and you’ll be driving off the lot in a car you previously only dreamed of driving.