In the past, most people thought leasing was only for businesses or business owners who could benefit from the possible tax write-offs. Times have definitely changed with the increasing cost of cars. More and more car buyers are realizing the benefits of leasing versus purchasing a brand new vehicle.

 
When you lease a vehicle, you are only paying for the portion you are using, based on your annual mileage.  You do not actually own the vehicle however you do have to insure it.  With leasing though, you can usually afford to drive a more expensive vehicle without the outlay of a lot of cash up front or without taking out a large automobile loan.  Leases typically run from two to five years, however most manufacturers will offer special rates for certain terms, usually three years.  All warranties will still cover any mechanical repairs during the course of the lease, and some manufacturers' leases even include the maintenance at no additional cost.

 

There is an additional bank fee included when you lease a car which varies from bank to bank, however even with this fee; the payments are usually more affordable than if you were to finance the same vehicle with a minimal down payment. When you purchase a vehicle, you pay sales tax on the entire purchase price, however when you lease, you only pay tax on the monthly payment amount.  The amount needed to get into a lease can be minimal so you can get more car for your money. There are also leases available that require zero down payment. 

 

At the end of the lease term, you have the option of purchasing the vehicle or simply returning it to the bank.  There are fees associated with any lease return,  Okuma offers lease buy-outs which could help you to avoid these fees and possibly provide some cash towards your next lease or purchase.

 

Leasing may not be for everyone; however it can be a good alternative for some.  We are happy to discuss your individual requirements to see whether or not a lease would be a good fit for you. Give us a call 323-981-1480 and we will answer any questions you might have, our consultants average 30 years experience in the car business and are always happy to help.