When you get a car, you can either choose to buy it or you can get it on lease. If you are confused about whether to lease a car or not, then the article on the benefits of leasing a car and their meanings are explained in this article.

You Can Drive the Latest Cars
One of the key benefits of leasing a car is that it allows you to drive the latest car in the market. It is very simple, lease the latest car for 2 or 3 years. Once the lease period is up, return the car and lease the latest at that time. A great benefit for those who love new cars.

Leasing Is Cheaper Than Buying
There is no doubt that leasing is cheaper than buying. If you buy a car, you need to pay its full amount as a lump sum or need to take a loan and repay it month on month. Leasing, on the other hand, involves paying a rent amount every month for using the car. This amount is much lesser than the costs of a monthly mortgage payment.

Repair and Maintenance are Not Issues
Getting your car repaired is expensive as is frequent maintenance. If you lease a car, then the lease would include complete warranty. This would cover the costs of repair and even maintenance for the first two years.

You Get Tax Benefits
You get tax benefits when you lease a car. You can deduct the financing and depreciation costs involved in leasing, in case you’re using the car for business purposes. Even if you use it for personal use, you can still get a tax deduction.

Variety
Leasing gives you a variety of cars to choose from. Since you’re going to use the car only for around three years, you need not worry about shortlisting the best possible car. You can choose from among the top cars in the market, giving you variety in choice.

No Need to Worry About Selling
When you buy a new car and use it for many years, you would want to change the car. At that time, you need to sell the car and there is a lot of work involved in finding a buyer and completing the sale of the used car. When you lease a car, once the lease period is over just return the car. No hassles of selling.

Pay Less Upfront
When you buy a car, you either need to pay the entire amount or pay 20% upfront before you can get a mortgage. There is no such requirement when you lease a car. You need to pay some initial fees but it is much lesser than the 20% fees in buying. You also have an option to merge the upfront amount with the monthly lease. This ensures you have to pay less upfront.

The benefits of leasing listed herein will help you understand why you can consider leasing a car instead of buying it.