Is It Really Possible to Lease a Used Car?
Wed, 09 Aug 2017
If you are someone who wants to drive a great luxury vehicle on a more affordable monthly payment, then you should know there are distinct benefits that could make your next vehicle purchase a smarter one.
Lower Monthly Payments
Payments are lower with our leasing programs due to residual values (buyout amount at end of term). For example, if a vehicle is purchased at $10,000 over a 2 year term, the buyout amount at end of term could be $2000 which leaves $8000 to be spread over those 2 years, resulting in a lower payment. Lastly, luxury vehicles tend to hold their value better, so they will have a higher residual value at lease end, which means an even more attractive monthly payments in many cases (compared to a more typical non-luxury vehicle).
Better Payment Customization
Did you know you can lease a used car on more flexible terms compared to normal bank loans? Our lease programs can be adjusted and tailored to your specific needs, allowing you to structure your deal to fit your lifestyle, budget & preferences (term, down payment, budget, mileage).
Can you lease used vehicles and pay less in taxes? Yes, you can because unlike a finance contract where you pay for the sale price of the vehicle plus taxes, you only pay taxes on your monthly payment rather than the entire purchase amount (in addition to loan interest).
Here’s what we tell our clients: “Let your business make the payments during term of your lease, and then have the option to purchase it at your pre-determined value personally at end of lease term.”
This is a great way to take full advantage of our lease program benefits, all while getting a great deal on the vehicle.
Less Personal Liability
If your kids drive your vehicle, we have the ability to structure your lease so that you have less liability if something were to happen to the vehicle while someone else were driving it (knock on wood!). There are several options available to make this happen for your next purchase, so be sure to ask us about this part if you’re considering leasing a vehicle.
Easier Vehicle Upgrades & More Ownership Flexibility
If you like to drive something every couple years or so, a lease is one of the wisest ways to ensure you aren’t ‘locked’ in to a purchase term. By leasing a vehicle with us, you’ll have excellent options at end of your term to either jump into a new vehicle (and apply equity to the new agreement), return the vehicle or keep it.
This is an area our clients love the most – they know they aren’t tied to long-term commitment. At any point of the lease, they can explore options with us to upgrade.
We all know life happens, careers change and the unexpected comes upon us. For those who want additional flexibility, a lease could make the most sense.
Ready to Consider Smarter Vehicle Ownership?
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