When it comes to getting a new vehicle, there are quite a few decisions that consumers need to make early on. One such decision is whether to purchase the car themselves, or if they should instead opt to lease the vehicle. There are benefits and drawbacks to each ownership option.
Here are the top three signs a car lease in Naperville is the right ownership method for you.
Sign #1: You Enjoy Frequent Upgrades
Most leases have a term of about three to five years, giving consumers the option to upgrade more frequently than those who secure financing to purchase a car. It is a shorter commitment, and in some cases, you can even upgrade early by paying a fee. If you are the type of consumer who tends to tire of your existing vehicle quickly, and who doesn’t get attached to cars, a lease is the best way to satisfy your urge for something new without going deep into debt to do so.
Sign #2: You Use Your Vehicle For Short Trips
Most leases have a mileage limit clause as part of their terms and conditions. This restricts the number of miles you can put on the vehicle per year, with penalties and fees applied if the mileage goes over. This is typically done to prevent unnecessary wear and tear to the leased vehicle, keeping it in great shape for much longer. If you don’t tend to go on long trips, or if you prefer alternate forms of travel for longer journeys, leasing may be right for you.
Sign #3: You Want Lower Monthly Payments
For approved consumers, monthly payments tend to be lower when the vehicle is leased rather than financed. This can be an attractive way to drive the car of your dreams without breaking the bank in order to do so. Insurance rates tend to be cheaper with leased vehicles as well, and you may find that you spend a lot less on repairs and maintenance when you opt for leasing. This is usually because leased vehicles are well maintained by the dealership on a regular basis.