Access to Newer Models
You have options at the end of your lease–including leasing the latest model or buying the one you've grown to love. If you decide to buy the
car at lease-end, you will get a no-hassle preset purchase price.
Lower Monthly Payment
On average, you can expect to pay approximately 40% less each month than
you would if you purchased. This is because your monthly payment includes the vehicle's use
and expected depreciation only during the lease term, meaning you'll have more cash in your
pocket every month.
Sales Tax
You only have to pay tax on the "payment" amount as opposed to the full value of the vehicle.
High Mileage Driver Savings
If you expect to drive more than the designated mileage associated with a
lease, you can pre-pay for additional miles for $0.10/mile (or $0.15 at
termination) versus the $0.20-$0.30/mile deduction from the value of a
trade-in.
GAP Protection Included
In the event of unforeseen loss or damage, GAP protection will help
cover the potential financial gap between what your primary insurance
company pays in settlement (typically the fair market value or actual
cash value of the vehicle at the time of loss) and the balance of your
loan to prevent a negative equity position.
Wear and Tear Protection
No matter how well you take care of a vehicle, with age comes some signs
of use (aka wear and tear). Our lease program has a $1000 threshold for
repairs meaning that you will only be liable for the amount in excess
of $1,000 needed to restore the vehicle.
Credit Rating Improvement
Because Leases are usually reported as a total of payments, it could
reduce your debt to income ratio and possibly improve one's credit
score.
Eliminates depreciation risk
A common concern among car shoppers is that once you purchase and drive
off the lot in your new vehicle, it begins to lose value. When you
lease, you are only paying for the depreciation of the vehicle as
opposed to the total price of the car. In essence, think of a lease as a
long term car rental.
Tax benefits
For small business owners, leasing can be a great idea. In most cases,
the full payment amount can be used for tax deduction purposes.