Owning a car is one of the most adult things that you have to do. It will make your life more convenient, taking you to places that you need to go. But deciding whether to buy or lease is one of the decisions that you have to make. These days many more people choose to lease a car from sites such as https://www.genusleasing.com over buying one for different reasons. If you are deciding to get a car, here are some things that will convince you to lease.
Renting versus leasing
The key difference between renting and leasing is that the former does not have a specified time that you will use the vehicle. The latter, on the other hand, has a pre-determined period during which you will be using the car. A lease is usually 36 or 48 months.
Low initial payment
If you are working on a tight monthly budget, leasing is a better option because it only requires a small initial payment and even lower monthly payments. This reason alone allows people to own more luxurious vehicles that they would otherwise not be able to afford to buy.
Different cars every few years
If you are someone who loves to switch cars but does not have the money to keep buying them, leasing allows you to change cars every time your lease finishes. You get to drive different types of vehicles without the commitment of owning each one of them.
Savings on maintenance
Most car leases offer a three-year warranty, so when you lease one for three years, the leasing company will cover the maintenance. Maintaining a car is costly, so getting this expense off your budget is a big deal. You don’t have to set aside an amount for maintaining the car in your monthly budget. You can use the money for other more important things, such as groceries.
Some people are bad at haggling when reselling their car. If you are one of these people, you don’t have to worry about reselling your vehicle because all you have to do is to return it by the end of your lease and you can choose another one. It is that easy.
Tax deduction perks
Leasing a car for business use will be beneficial for you. You can deduct the financing and depreciation costs from your tax payments. These costs already form part of your monthly lease payments. The tax write-offs for a leased car are more than for a loan.
Car leasing companies offer different deals for the same type of vehicle, so be sure to shop around first before settling on a vehicle. You will get more savings with this practice. And also, make sure to have a keen eye on what to check on your chosen vehicle. If you don’t have an inkling of what to look for, ask someone who does so you get the best car which will not give you any trouble for the duration of the lease.