08/14/2024
Tips From Tony!
Is leasing right for you?
Many people are unsure whether leasing is a good option for them for reasons such as: I drive too many miles; I am basically renting the car; I donât have enough money down. Well did you know that you can lease a car for up to 20,000+ miles? You can prepay for extra mileage ahead of time. Also, only 6% of buyers that finance for 72 months actually pay all 72 payments without trading and only 4% for 84 months!!
You are only paying for the portion of the car that youâre using during the lease. The residual value is calculated ahead of time to determine how much that car will be worth when the lease is over. đđ
While having money down to lower your lease payment is helpful, it is not required (except for your first payment due at signing). Of course, your monthly payment will be higher. đ”đ”
One really cool fact about leasing is that you donât have to worry about negative equity (owing more money than the current market value of your car). When youâre at the end, you have a few options. You can turn it in, purchase it, or continue into a new lease on another vehicle. đ„đ„
Hopefully this provides some insight on why a lease may or may not be for you! I am happy to answer any questions down below!! đđ»
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