We see car-maker advertisements everyday that tempt consumers with low monthly lease payments, but is car leasing right for you? Surely you have talked to people that have had no good to say about leasing an automobile, but on the other hand there are money people that are very pleased with leasing cars. Obviously car leasing is not for everyone, but it does have a place for the right person. Don’t make the mistake of leasing a car in order to keep your monthly car payment low or you will surely become one of those people that don’t have anything good to say about leasing cars.
Most new cars today are purchased and financed, but there are a respectable number of people that continue to lease their cars one after another. There are benefits for both sides on the argument for leasing, but that still doesn’t mean that everyone is a good car-leasing candidate. If you are still sitting on the fence trying to decide whether you should lease or buy your next new car continue to read this quick way to help you determine if car leasing is right for you.
Car Leasing is Not Right for You
- You drive more than 15,000 miles a year.
- You like to keep your cars forever or at least until the wheels fall off.
- Cars are basically transportation.
- You use your vehicle for work and are hard on cars.
- You do your own maintenance work and minor repairs.
- You car image is not what you are about.
- You hate car payments and you want to payoff your car ASAP.
- Being upside on a car loan makes you crazy.
- You know cars a bad investment, but you will keep it running for years.
- You often have pets and kids in your car that can damage the interior.
- Your credit score is not the best.
Car Leasing Could Be Right for You
- You typically drive 12,000 to 15,000 miles a year.
- You get the itch every couple of years for a new car.
- Cars are much more than basic transportation.
- You choice of vehicle has a high lease residual value.
- You car is very important to you.
- You don’t even want to look under the hood as long as it drives.
- A current model clean and shiny car is important to you.
- You are willing to make car payments as long as you have a nice car.
- The ability to walk away at the end of the lease is freedom.
- You know that cars are a poor investment so you are paying for usage only.
- You keep your car clean and avoid doing anything that might cause damage.
- You have a great credit score and qualify for a low money factor.
There may be some other factors involved that may rule out car leasing for you, but these are the major reasons to help you determine if car leasing is right for you or not. Don’t lease an automobile for the wrong reasons or neglect some important points that can cause one or more of the common car leasing mistakes.
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