Shopping for a used car is a complicated and detailed process. It requires you to do your homework and understand how to locate the car you want and the process you need to go through to get it one the terms you would like. These days there are so many used cars available terms for purchasing them have been expanded radically. Reputable used car dealers like Robert Bassam also now include an option to lease a used car. In some cases this option is the best one to take when you are looking for a used car. Here are some of the advantages if you choose to lease;
Minimal if any repair costs
When you lease a used car there will be a warranty on the vehicle that covers all of the major systems of the car. This lease will either be from the factory or from a 3rd party depending on the age of the vehicle you are leasing. Generally the used cars available for lease will be near to new cars so the chances of your having a major issues with its reliability are small, but having the warranty on the vehicle will bring extra peace of mind. Be mindful that this warranty price will be factored into the monthly lease price, so it is not a free option and you will have to pay for any wear and tear and items like tires and hoses when and if they need repair.
Leasing through the business can save you money
If you use the car for work, leasing is a great option because you can write off some or all of the lease price.
Lower down payment
The monthly lease payment for a used car is calculated based on little or no down payment for the vehicle. This makes getting into the vehicle car more affordable and frees up your cash for other important things. You have an option to make a down payment and if you do, it will lower your monthly payments.
Lower monthly payments
Perhaps the biggest advantage of leasing over purchasing a used car is that when you lease, your monthly payments will be much lower. For example, monthly payments for leasing a used car including the typical leasing incentives that dealers will offer, can sometimes be up to 40% lower than if the car is purchased.
This is the case because a lease payment is calculated based on the difference between the sale price and the projected residual value of the car when it is returned. At the end of the lease term, you have to return the car/ At that point the value of the car is compared to its pre-estimated book value which was derived when you took out the car lease. If the value upon its return is equal or above its pre-estimated book value, your lease ends and there is nothing else for you to pay.
When you are looking to acquire a used auto, leasing is a strong option for you to consider because it allows you to get more car for your money or get a lower monthly payment for the car you want. You have to take into consideration the mileage you will travel each year because this can affect the price of the lease and may determine if you will likely have additional charges at the end of the lease.