Why Lease a Car?
Tuesday, June 2, 2015 at 7:37 PM
If you need a car, you can go about getting one in a number of different ways. You could buy a car, lease a car, borrow a car from a friend, steal a car . . . Okay, maybe not that last one! In any case, you may be wondering why one option is better than another. So today we're asking, why lease a car? We'll explore the reasons one might decide to lease a car as well as the particular situations in which leasing a car makes the most sense.
Why Lease a Car?
You have bad credit. If your credit score is very low, it will affect your chances of obtaining a good car loan (if you can obtain a loan at all). Instead, you should look into leasing. Your credit history will not affect your ability to get a vehicle, and at the end of your lease, you can even purchase the car!
You have no credit at all. Similarly, if you haven't spent years building up a satisfactory credit score, your lack of credit could also make it difficult to purchase a new car. Again, head to a leasing dealership so that your nonexistent credit score won't prevent you from getting a car. Although not all companies offer this deal, you can find some who do.
You're on a tight monthly budget. The monthly payments for leasing a car are typically less than they would be if you bought a car. So if you're on a very tight budget, leasing may make more sense for your current financial situation. However, it is important that you're able to make all of your lease payments on time to avoid penalties.
You're willing to stick with your leased car. If you're certain that you won't be moving in the next year or two (the length of a typical lease), you can feel confident obtaining a lease. Breaking a lease will result in a hefty penalty.
You don't plan to take many long road trips. Many leases come with mileage penalties if you go over the annual limit. So look at your current driving habits and estimate how much you'll be driving your new car in the next year. If you have a long commute or take frequent road trips, you may struggle to stay within the terms of your lease.
You enjoy changing vehicles every few years. Do you prefer to drive a new car every few years? Do you enjoy the frequent change of vehicle? If so, leasing is the perfect way to do that. The car will almost always be under warranty, and you'll be able to trade your car in for a new car after the lease ends.
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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!