10 BENEFITS OF CAR LEASING COMPANIES

If you find yourself on this page, you are well aware of the peculiarities of financing or taking a loan. Maybe you even got an 8-year house loan or a history with financing your Toyota for 4 years and then having trouble selling it in times of pandemic. Well, these stories are all about the time. People are looking to find some alternative that would not require a severe long-term commitment. There are many car leasing companies and sometimes it confuses. But leasing provides fewer hassle options, so you can enjoy driving your car but not worry about it.

Nowadays leasing offers all the mentioned above and even more. If you want to secure your savings, get somebody to deal with the documents haggle, and drive your brand new car today, then keep reading to find out the 10 Benefits of Car Leasing.

1.Leasing saves your money

Lease payments are less than a traditional car loan payment. When leasing a vehicle the payment is less because you are not paying for the entire vehicle, you are only paying for the difference between the purchase price and the residual value (the predicted value of the car at the end of the lease).

It’s similar to renting the vehicle for the lease term. This means you could be able to afford to drive a more expensive vehicle on the same monthly budget. In fact, comparing leasing to loan payments on the same vehicle, your monthly payments could be more affordable for the luxurious models as one of the main factors here is the residual value. To help you with estimation, you may contact your personal lease expert or use the Calculator to do it yourself.

2.Residual is agreed at the beginning of the lease 

With a lease, everything you pay is agreed upfront. Residual value is what the vehicle is worth at the end of a lease. It is important to pay attention to it and choose wisely the models with high residual value as it’s going to reduce the depreciation fee. This value is locked in at the beginning of the lease. Model re-designs or demand changes do not affect the value of the vehicle at the end of the lease term.

Grand Prix Motors will tell you exactly how much you need to pay each month at the earliest opportunity. Your monthly costs will not change throughout the duration of your contract. This should make your budgeting much easier, as you’ll be able to manage your future costs from the very start.

a man inside a honda car holding a steering wheel

3.You enjoy the latest features of your new car

Getting to drive the latest car is a luxury many car buyers can’t have because it simply is not affordable. But with leasing, you can have a brand-new vehicle every few years and get access to the newest upgrades. Carmakers introduce new safety features, greater fuel efficiencies, and improvements to in-car entertainment systems all the time.

Even in a couple of years, your car can feel dated. Leasing gives you the opportunity to have the newest model every two to four years, complete with your choice of extras like additional tech, driver aids, and the choice of paintwork.

4. You can have 0 down payment

Grand Prix Motors offers no down payment and you only pay for the first month’s lease payment with taxes and fees on top. This way you may not waste your time saving a fortune to put the money up-front. Leasing doesn’t work the same way as taking a loan and leasing is much more flexible.

However, it’s a good idea to make a down payment since it will lower your monthly lease payment. All the further details can be discussed with your personal lease expert so you will have no doubts.

5.Leased car provides you with safety

Most manufacturers offer a 3-years length as the basic warranty on most vehicles. You get your new car for the first trouble-free years with minimum maintenance required. If your lease includes the cost of basic maintenance, your only expense is gas and insurance. Some of the latest technologies improve road safety taking some of the stress out of driving on our busy roads.

For example, a recent popular in-tech addition includes Autonomous Emergency Braking which detects a potential crash ahead and prepares the car by audibly warning the driver or taking evasive action itself by applying the brakes. A multitude of different car manufacturers such as Audi, Tesla, BMW, Ford, Skoda, and Nissan have adopted this technology.

rearview mirror reflecting a person's feet

6.Leasing eliminates the hassle

One of the biggest downsides of buying a car is dealing with market fluctuation and depreciation of your vehicle when you try to sell it later. But with leasing, you can enjoy a brand-new vehicle of your choice every few years without needing to think about selling it for a good price.

Once your contract ends, you can simply return the vehicle without any extra hassle. The vehicle will undergo a standard maintenance check to ensure you have not exceeded the normal wear and tear, which is agreed in your contract, or surpassed your agreed mileage limit. After that, it is entirely up to you what happens next. Of course, you can always choose another new car and enjoy the benefits of leasing all over again.

a pile of documents and stationary with a word tax

7.You benefit from deductible taxes

If your car is used for business or leased through your company, you could write off a portion of your leasing costs on your taxes, saving you some extra money. If you find yourself in that position, then you should definitely consult your accountant or legal expert to see how much tax benefits a lease can provide you or your business compared to financing or purchasing the same vehicle. See IRS publication regarding requirements.

8. Leasing builds your credit score

Leasing companies typically report lease payments to the three credit bureaus Experian, TransUnion, and Equifax about the dynamics of the lease agreement. It works the same way as the loan installments reports, so a lease can help you build credit. If you make all of your lease payments on time and show reliability, your credit report will reflect that positive credit behavior. More to that, lease obligations will not show as debt on your credit report. 

This can be a great benefit for business owners who buy fleet vehicles, or helpful to those with credit concerns in general.

9.Avoid the dealership monopoly

As you’re dealing with independent brokers who constantly review the market for the best rates, you’re not being held captive to dealership finance. Dealerships can only offer you the options of one brand and only on the terms that fit them, so you don’t have much choice or flexibility. You also don’t have to visit different car dealerships trying to work out which one will give you the best price – only to end up feeling like they all want to rob you. Our company provides very attentive and caring service to find the best deal for you for any make and model you want to.

two people ascending the stairs with a phrase step by step

10.Simple process

If you need advice or assistance on leasing a vehicle and finding the right make and model to meet your requirements, we offer the following steps:

  • Choose your car from our Catalog or with assistance from your personal lease expert
  • Get a quote 
  • Apply for lease 
  • Sign your contract 
  • Decide on a delivery date 

From the point, you visit our website and have your first drive on a new car can be just a day! We deliver your auto door to door within 48 hours so click here to start your leasing journey right now!

#enjoy your freedom with Grand Prix Motors!

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