Can you afford a luxury car? Can you afford to equip your staff with them, too? Perhaps it’s time to consider your car lease options. More and more people are opting for this alternative to buying for the several advantages it offers, whether it’s for personal or business use.
Why Leasing Luxury Cars is Common
Experts estimate that at least a third of all cars on the road are leased. Primarily, it’s the upfront and monthly savings that draws people to leasing, since typical lease deals would often require lower initial fees and payments every month compared to that of repaying a car loan.
The lower rate is possible and maximized by several auto manufacturers and dealers because you’re only going to pay for the car’s value while it’s new and up to the end of your lease (usually a period of 2 or 3 years). The residual value (or the price of the used car), on the other hand, will be entitled to them for additional profit. Since it’s a luxury car, it can still be sold at a good price because these automobiles usually depreciate very slowly or even retain their value over time.
For other people, the best perk of leasing is that you can switch cars or get flashy upgrades every couple of years without spending a fortune every time. You can get the latest car style, technologies, comforts, and innovated features. Getting a new lease would also be much easier than selling a used car.
More Practical than Purchasing Economy Cars
Aside from lower initial and monthly payments, you don’t have to worry about car maintenance. Warranties in these deals usually last throughout the duration of the lease, so even if the car unexpectedly breaks down or needs tune-ups, most of the expenses would be covered by the warranty.
Those who use a fleet of luxury cars as necessary company allowances, or as a fleet for a transportation business, might be able to claim tax deductions. Although there may be a tax deduction limit for luxury cars, the savings are still comparably bigger. Instead of writing off a loan, you can claim exemptions for the depreciation of the car and the financing costs.
A Few Hot Leases on the Market Today
If you want to lease a car in Los Angeles, car companies like Diviniti Auto Dealer have the most attractive cars and most competitively-priced packages for your needs. You or your staff can drive away with gorgeous and reliable cars, such as the four-door 2015 Mercedes CLA250, the 2015 Hyundai Sonata and the 2014 Cadillac CTS Sport.
7 Reasons Leasing a Car May Be Smarter for You, credit.com
When Leasing A Car Is Better Than Buying, Investopedia
7 great new-car lease deals you can get now, CBS News