Why Lease In Cincinnati

CAR LEASE CINCINNATI ASKS “IS THIS FOR ME?”

IS LEASING RIGHT FOR YOU?

Pros and Cons of Leasing a Car

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.