5 Reasons to Lease a Luxury Car

Although there are many reasons to lease a luxury car, one of the main reasons is status. Affluent people enjoy not only driving the newest car but also a vehicle that makes a statement. Drivers who love riding in a Mercedes, Ferrari, Lexus, or a variety of other cars will often lease the vehicle instead of buying.

1. Less Depreciation

One reason to lease a luxury car is there is less depreciation when you give the vehicle back. A lease agreement is determined by the number of years you keep the car, how many miles you put on it, and the shape it’s in when returned. Luxury cars retain their residual value. When determining payments, this “turn-in” value should keep the price lower.

2. Less Maintenance

Another reason to lease a luxury car is there is less maintenance. Your leased vehicle is covered by the manufacturer’s warranty and sometimes also includes a warranty from the dealer. If something major goes wrong with the engine or transmission, you should be covered. Some leases also include routine maintenance on the vehicle. You can return to the dealership for oil changes and make sure your leased car is in great shape.

3. Less Hassle Than Buying

Many drivers who love luxury vehicles develop a great business relationship with the dealer. If you’re going to lease a new car every few years, you may enjoy working with the same dealership and the same salesperson and who understands your needs. People want to work with a company they can trust and a dealership that looks out for their interests and gives them a great deal time after time.

4. Less Money Down and Lower Monthly Payment

When leasing a vehicle, drivers usually don’t have to make a large down payment, and monthly payments are usually lower. Although luxury car dealers may not advertise the incentives and rebates of standard vehicles, the reductions are usually reflected in the price and lease agreements. Although the terms still use your credit score to determine the interest rate, you may find a great deal on a lease that will cost you less money over three years than purchasing the car.

5. Fewer Problems Trading In

One of the best aspects of leasing a car is trading it in. You won’t need to worry about selling the car or haggling with the dealership about trade-in value. Once your lease terms are completed, you can begin shopping for your next luxury vehicle with the latest technology and upgrades. If you’re working with the same dealership, should already know what you like and be able to offer suggestions for a new lease. Just bring in the car you’ve been driving, and drive off with a brand-new leased vehicle.

Drivers enjoy leasing luxury vehicles because it’s an easy way to drive the newest car without spending a lot of money. Many of the people who enjoy these cars know there are more productive uses of cash than putting down a large down payment and spending a lot of money on monthly payments for something that depreciates quickly. Whether you’re looking to lease a new luxury car, a standard vehicle, or a used car, leasing instead of buying makes a lot of sense in many situations.