Why Lease?

Not sure about how leasing a car works?
There are many misconceptions about leasing. One of the most common concerns is that leasing a car means you never own the vehicle. The truth is that when you lease a car you are simply paying for the part of the car you use. If at the end of the lease you decide you want to payoff the rest of the vehicle and own it, you can. You have a choice. You can either hand the car in and get a new one, or you can buy the car out for residual value.

Think of a lease as test driving the car.
Maybe you want to test the car out and decide whether this is the car you want to own. Maybe your life has changed and you realize that you need a bigger vehicle for a growing family. Maybe you want to get the latest model. Or maybe you find out that the car you leased, is the car of your dreams and you want to keep it. Whether you lease or take out a loan, you do not own the car until it is completely paid off. Leasing gives you the option to reevaluate your decision all the while having a lower monthly payment.
A Car Is Like a Stick of Butter
Just like a stick of butter, cars will depreciate, regardless of the car you buy. There are rare occasions, such as classic and exotic cars that they will be worth more money. Generally speaking though, a car you use as a daily driver is going to depreciate. See the graph below to compare leasing a car with a car loan. Just like a stick of butter, you can use it a little at a time. In the case of butter though, you do not have to pay thousands of dollars to get a stick of butter. With a car you can just pay for the amount you are going to use.

For more details on how leasing works and whether you qualify for a lease be sure to contact us.

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