Why Lease In Cincinnati

CAR LEASING IN CINCINNATI – “IS THIS FOR ME?”

IS CAR LEASING RIGHT FOR YOU?

Pros and Cons of Car Leasing:

The lists below summarize the pros and cons of leasing vs. buying.

Advantages of Car Leasing

• Lower monthly payments
• Lower down payment
• You can drive a better car for less money each month.
• Lower repair costs (With a three-year lease, the factory warranty covers most repairs.)
• You can more easily drive a new car every two or three years.
• No trade-in hassles at the end of the lease
• You pay sales tax only on the portion of the car you finance.

Disadvantages of Car Leasing

• You don’t own the car at the end of the lease.
• Your mileage is limited to a set amount, typically 12,000-15,000 miles a year (excess miles are paid for at the lease termination).
• Lease contracts are confusing.
• Leasing is more expensive in the long run (as opposed to buying and driving until the wheels fall off).
• Wear-and-tear charges can add up (paid at lease termination).
• It’s costly to terminate a lease early if your driving needs change.

Advantages of Car Buying

• Pride of ownership – you can modify your car as you please.
• Car buying is more economical in the long run unless you buy and trade-in regularly.
• No penalty for driving excess mileage
• Increased flexibility – you can easily sell the car whenever you want.

Disadvantages of Car Buying

• Higher down payment is generally required.
• Higher monthly payments
• You’re responsible for maintenance costs once the warranty expires.
• Trade-in or selling hassles when you’re ready to get rid of your car
• More of your ready cash is tied up in a car, which depreciates, rather than an investment that appreciates.