Leasing is fast becoming a popular option when it comes to purchasing a vehicle. However, a lot of people are still unsure how leasing works. We break down the benefits of leasing a vehicle and explain why more luxury buyers are choosing to lease than ever before.
How Financing Works
Everyone understands how traditional financing works. You borrow money and make monthly payments over a specified period of time. The dealership charges you a certain amount of interest for lending you the money and that percentage is included in your monthly payments. Eventually, you pay the vehicle off and the car is yours.
How Leasing Works
When you lease a vehicle, your payments only cover the amount that the car depreciates over the time you drive it, plus financing charges and applicable taxes. You are not responsible for paying the principal. When your lease contract is up, you simply return the vehicle to the dealership and either purchase a new one or sign another lease contract.
What are the Benefits of Leasing?
There are several benefits to leasing, the biggest of which is your payment amount. Because you are not putting money towards the principal value of the vehicle your monthly payments are usually less than they would be with financing.
Leasing also means you never have to worry about the type of vehicle maintenance that comes with driving an older vehicle. You only ever drive a car that is in its prime. This means you enjoy the latest technology, features, brand upgrades and luxuries as your vehicle is always the newest model.
Leasing gives drivers the opportunity to drive the highest level of luxury vehicles without having to worry about paying back a large principle. You enjoy the class and comfort of your favourite Lexus without the added pressure of long-term payments.
When you are ready to move on to a different model you don’t have to worry about the hassle of selling it, either. You simply drive it back to the dealership and leave the rest to us. No stress about resale value, no headaches with trade-ins. It’s the easiest form of vehicle ownership there is, which makes it a perfect option for busy business professionals. Business owners should also keep in mind that there are some noteworthy tax advantages to leasing a vehicle.
Leasing a Vehicle from Oakville Infiniti
Interested in more information on leasing an Infiniti from Oakville Infiniti? Schedule an appointment with one of our experts. Our team of financial specialists has helped hundreds of people find their perfect vehicle at a price they love – and you can be next! We can walk you through the pros and cons of financing and leasing to help you determine the best option for your situation.