Q:

What is the benefit of leasing a car?

A:

Quick Answer

The benefits of leasing a car, according to U.S. News & World Report, include affordability, an applicable manufacturer's warranty and convenience. Costs are generally lower, and most lease agreement warranties covers vehicle repairs during the first few years.

Continue Reading

Full Answer

A new car can be leased for little or no down payment, according to Consumer Reports. A lessee makes payments for the depreciation of the vehicle during the leasing period, rather than paying full price or making loan payments. This allows a person to drive a vehicle that may otherwise be out of their price range. The lessee has the option of buying the vehicle after the leasing period ends, sometimes at a smaller price than if they had purchased the vehicle new, says U.S. News & World Report.

Leasing is favorable for people who are concerned with having the newest features and technology in their vehicle, notes Cars.com. A lessee is able to consistently drive a new or late-model vehicle if they choose to turn their vehicle in at the end of the lease period, then start another lease on a new vehicle. There is a smaller likelihood of a new or late-model vehicle needing repairs, compared to an older vehicle that was purchased outright.

Learn more about Buying & Selling

Related Questions

Explore