No Matter Your Income, Leasing Makes More Sense Than Buying
Leasing is certainly the finest option if you want the best car for the best price, as you can punch well above your weight financially when you’re not paying for things like the full cost of depreciation. But, what people may not realize is that, even for folks who can afford pretty much any car they want, leasing is still a better option, as it doesn’t tie up capital and it doesn’t fail as an investment.
Leasing a car in Canada shouldn’t, in theory, be difficult, as there are many companies that provide the service. However, before you lease a car you should be sure to find a company like AUTO ONE Group luxury car dealership that’s reliable, professional and capable of catering for all your vehicle needs, whatever your income. This article will look at a few of the attractive features of leasing, whatever your income.
Manageable monthly payments:
Leasing a car means that you can save more of your money for other uses – whether that’s to put towards bills or to reinvest. You save money with leasing because you get to pay manageable monthly payments for the vehicle as opposed to parting with a large amount of money all at once, as you would when buying it. Additionally, when buying, you’ll probably have to get a loan from a financial institution and repay it monthly with a certain amount of interest. Leasing just saves you money, period. And no matter how high your income, you can always use the extra amount in savings.
Pay less for depreciation:
When you lease a car you pay less for the depreciation of the car, because you’re only paying for the amount the vehicle depreciates while you’re leasing it. This is in contrast to buying, where you eat the full cost of your vehicle’s depreciation.
Maintenance of the car:
At this point, it’s pretty clear that leasing a car in Canada is probably one of the best decisions you can make. One of the many reasons is that leased cars are always well maintained, meaning they won’t cause you any car trouble. Most cars that are leased are still covered under the manufacturer’s warranty, which means they likely have free scheduled maintenance and oil changes. Again, whatever your income, knowing that you will not have to worry about maintaining your car is a huge luxury.
Drive a better car:
Leasing also gives you the luxury of driving a higher priced car, because you don’t have to worry about parting with the cash all at once. Whether you choose something from their inventory, or ask them to source a vehicle, you get a better car and you get the car you actually want to drive.
Exchanging the car:
When you buy a car you have to stick with it even when the value depreciates, or you have to sell it for a low price. However, when you lease a car, you always have the luxury of exchanging it when the lease term finishes. This means you’re always driving the latest car model, with the latest safety and fuel-efficiency technology, two things that, regardless how much you make, are incredibly important.