Leasing is an attractive option for many new car shoppers because of the short-term financial benefits and the ease with which you can replace your vehicle down the road. People who are using a car for business or who like to trade in their vehicles at regular intervals are ideally suited to leasing, but there are many other benefits to leasing that might make it right for you, too.
We touched base with Westwood Honda in Port Moody for a list of some of the benefits of leasing. We’ve listed the top 5 here:
1. Because lease payments are applied to the vehicles depreciation, not the purchase price, monthly lease payments are generally lower than most car loan payments, and tax is calculated on the lease payment, not the total value of the car.
2. With a predetermined ownership period, leasing means owners can trade in vehicles more frequently – which means they can drive a new car more frequently.
3. While leasing customers sign up for a predetermined number of kilometres driven per year, most agreements allow drivers to purchase additional kilometres if needed, and most allowances are more than enough for most drivers.
4. If your needs change over the course of the lease, or you decide you’d like to try a different vehicle, it is possible to exit a lease early. Just like a vehicle loan, a lease can be paid out and a new one started. A very high percentage of our leases tend to ‘trade up’ before the end of the lease as their needs change.
5. In most cases, a leased vehicle is covered by the manufacturer’s warranty for the duration of the lease, giving you piece of mind.
If you’re debating whether to lease or buy your next vehicle, consider the benefits of leasing, particularly if you plan on using your vehicle for work or if you really like driving the latest model.
For more helpful information about the benefits of leasing a new vehicle, visit Westwood Honda online at www.westwoodhonda.com or on Facebook or Twitter, call them at 1 (877) 290-8933or visit them at 2400 Barnet Highway in Port Moody.