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Car Lease Specials: The Benefits of Leasing a Vehicle Over Buying One

People who choose to lease vehicles have a different set of priorities than those who choose to purchase one. Unlike individuals who form an emotional connection to a vehicle, most people who lease their car do so because it makes the most sense for them economically.

Car Lease Specials

Low Payments

Leases offer lower initial payments. When a person leases a vehicle, they might pay slightly higher interest. However, the amount they pay on the principal is a lot less than they would pay if they financed a car with the goal to own it. Since leases are usually more affordable, they allow a person to drive a more luxurious car than they would have been able to afford otherwise.

Drive a New Car

Leases allow people to drive a new vehicle every couple of years. Many become addicted to the idea of driving a new vehicle. When a person leases a vehicle, once the lease is up, they return it and drive away with a new car. There are numerous car lease specials in Los Angeles that offer you a sweet new ride for less.

Little Maintenance

Leasing a vehicle removes the worry of doing automobile maintenance. Most leased vehicles have a warranty that lasts for up to thirty-six months. This means that when a person gets a three-year lease, the vast majority of the repairs on their vehicle are covered by the warranty. Leasing a vehicle removes the danger of an unexpected automobile expense draining a person’s resources.

Not to Worry about Reselling

Some people are attracted to a leased vehicle because they do not have to worry about reselling the vehicle when it gets older. Once a lease has come to its end, the vehicle is simply returned to the dealership. The only thing that the person returning the vehicle needs to worry about is paying end of lease fees, which would include things like normal wear and tear and excessive or additional mileage on the automobile.

There a lot of people who choose to find lease specials around Los Angeles because it offers them the best IRS tax write-offs. This is because the IRS allows a person who is leasing a vehicle to deduct the depreciation of the vehicle as well as the financing cost of the payments made every month. The IRS does put some limitations on the amount that a person can deduct if they are leasing a luxury automobile.

Sources:
When Leasing A Car Is Better Than Buying, investopedia.com
Buying vs. Leasing, rankingsandreviews.com