Leasing a car offers significant cost savings and flexibility, allowing for affordable access to newer, larger vehicles without concerns about depreciation or high maintenance costs, but drawbacks include the lack of equity in closed-end leases and potential challenges for individuals with poor credit or exceeding lease mileage limits.
FOLLOW A MAINTENANCE PROGRAM
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SEARCH FOR A TRUSTED MECHANIC
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CHECK THE AIR PRESSURE IN YOUR TIRES
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REVIEW YOUR SUSPENSION FREQUENTLY
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SERVICE YOUR VEHICLE AS REGULARLY AS POSIBLE
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“NISI QUIS ELEIFEND QUAM ADIPISCING VITAE ALIQUET BIBENDUM ENIM FACILISIS GRAVIDA NEQUE VELIT EUISMOD IN PELLENTESQUE”
CONCLUSION
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Pros of leasing a car include the significant savings with lower monthly payments, which leads to an ability to afford a newer, bigger, or well equipped vehicle. Flexibility in monthly terms is also helpful, with many companies offering scaling down-payments that can help adjust the monthly price to fit your budget. This all helps provide the consumer with a predictable timeline with the vehicle, and a clear expectation on when it is time to upgrade—without the fear of depreciation, or expensive maintenance costs of traditional ownership.
Cons of closed-end leasing a car include the fact that you are not building any equity, and don’t actually own anything when the lease is up. Pros of open-end leasing is that you do build equity and have the option to own the vehicle when the lease is up. Leasing a vehicle can be challenging for those with poor credit scores, and if you end up putting more miles or damage on the vehicle than expected—you could end up with an end of term balance.
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