Should You Lease A Car?

USA is about cars. We buy more cars here than anybody in the world. It is not uncommon for a house to have two cars where public transportation is not readily available. There are only three ways you can buy a car: finance, lease or pay cash. Yes, paying cash for a luxury used vehicle is the best option. But everyone doesn't have the ability to pay cash for a car. I am going to discuss why you should lease a car.
Before I discuss that you need to understand leasing and financing are completely two different way of owning a car. Depending upon your choice, how long you intend to keep a car, how much you want to pay on a monthly basis are factors on determining if you should lease or finance a car. I am going to discuss if you should lease a car.
Yes, you should lease a car. There are various advantages to it. 

New Car More Often

You get to drive a new car every two to four years depending upon the length of your lease. It is a advantage to you since you get to drive a car with warranty and never worry about major maintenance bills.

Lower Monthly Payments

You pay much lower monthly payments for the same car and same length of the term in compare to if you were actually financing the care. Since you only pay for the depreciation costs plus interest which equals to 30 percent to 60 percent less when you lease a car.

Lower Taxes

Since you pay for only a small portion of a car which you lease for the length of your term, you pay less taxes in oppose to financing a car where you pay taxes on full amount of the car.

Gap Insurance Included

When you lease a car, Gap Insurance is automatically included. It pays your balance if you owe more on your car than it is actually worth in case your car is stolen or totaled on an accident. Gap Insurance are not included when you finance a vehicle. Even though they cost less than four hundred dollars to purchase separately it is worth considering.

Removes Headache of Selling 

You simply turn your car back instead of trying to sell the car and getting worried about it. It is getting easier with companies like CarMax and Texas Auto Direct to sell a car. But they don't pay as much you would like for your car. Instead leasing just takes away that headache.

Flexibility to Buy

You have the flexibility to buy the car if you would like to own longer than the length of your term. It gives you the option to decide if you want decide with the same car or get a new one. 

You should lease the car ONLY IF

• Don't drive more than 15000 miles per year. You can purchase additional miles but you end up paying more.
• Want to drive a new car every two to four years.
• You have excellent credit. It is more easier to finance a car than leasing.
• You like making car payments on a regular basis in oppose to paying a car off and driving it longer.
• You don't mind the maintenance costs after the warranty expires.