Benefits of Leasing a Car
Sunday, April 19, 2015 at 3:46 PM
Need a car? Need it fast? If you aren't prepared to pay out-of-pocket and you're concerned about your credit score, you may want to look into a leasing service. Although the car won't belong to you immediately, you can drive it off the lot straightaway and when you finish making lease payments, you can even buy it! To learn more about the leasing process and the benefits of leasing a car, please scroll down. The many advantages might surprise you!
Benefits of Leasing a Car
A credit check is not necessary. If you don't have a strong credit score or you lack credit entirely, there's no need to worry! Leasing a car doesn't require a credit check. Unlike when you apply for a standard car loan, a bad credit score won't affect your ability to lease a car whatsoever.
Leasing won't show on your credit report. Additionally, your leasing company won't send any payment information to credit agencies. So if you struggle to make a payment here or there, your credit score won't be damaged. Since your credit score can affect important aspects of your life (including your ability to qualify for a mortgage), this is a significant advantage.
You'll get more for your money with a leased car. You only pay for depreciation when you lease a car, not the entire value, so you'll be getting more for your money. For best results, try to find a car with a high resale value as well.
Leasing is a deductible expense on taxes if used for business. Although this advantage won't apply in every customer's situation, if you're using the vehicle that you lease for business, the expense can be deducted from your taxes. What a deal!
At the end of your lease, you can buy the car or walk away. With a leased vehicle, you get the best of both worlds: you can buy the vehicle at the end of the lease (for the residual value) or you can turn the vehicle in and walk away. The choice is yours. You could even think of your lease like an extended test run. Plus, your lease will only be a two- to three-year term.
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These are just a few of the many benefits of leasing a car. To learn specifics, you'll need to research car leasing dealerships in your area. Although most will offer the advantages we listed above, remember that every dealership is different. Research your options, take your time, and ask a lot of questions before you sign a lease for a new car.
Are you interested in leasing a car? If so, be sure to check out Auto By Rent, the largest lease-to-own auto dealer in Missouri and Tennessee. We can help you secure a quality vehicle regardless of your credit history. To learn more about our services, please click here for a free quote or contact the location nearest to you:
North Springfield: 417-447-7979
South Springfield: 417-877-2001
We look forward to hearing from you!