If you aren’t sure whether you should buy or lease your new car from an Indianapolis Ford Dealership, there are a few things you should consider. A lot of people overlook the value that leasing your vehicle rather than purchasing it, can provide. The following will offer you some advantages a lease has over buying a new vehicle.
New Vehicle Every Few Years
Many people prefer to lease their vehicle from an Indianapolis Ford Dealership because they can get a new car every few years. New automobiles mean you can kiss rust spots and chipped paint good bye. No more waiting for your muffler to fall off or trying to sell off an old, used car. Protection from the high rate of depreciation a new vehicle goes through is another advantage to leasing. Your car won’t lose you money because you won’t have to worry about selling it when you are done using it.
Car Insurance and Registration Gets Rolled into the Lease
There are many lease agreements that take care of your registration, running costs and maintenance along with the monthly ‘rent.’ It’s important to discuss your lease terms carefully because they are all different. There are many leases offering a fantastic deal by bundling costs into one monthly car rental payment.
Leases Can be Tax Deductible
For most, the population, what you pay on your vehicle lease can get deducted from your taxes. You can check with your accountant or your loan broker to see if this is the case for you. Depending on what tax bracket you are in, this could save you as much as 60% of the purchase and running cost of the car.
Little to No Money Down
For many people, a quality car is important to their way of life and even their career. A high-quality car comes with a hefty price tag that often requires a large down payment. If you are in need of a professional vehicle but have nothing to trade in and can’t afford a large payment, a lease can be the most effective way to get behind the wheel of something that looks professional but doesn’t come with the sizeable upfront cost.
You Have the Option to Buy
Most lease agreements will give you the option to purchase the car you’ve been driving at the end of the contract you’ve signed. With the option to buy, you don’t have to worry as much about the depreciation rate. You can start enjoying the car with little to no miles and then get it for a lower price after a few years. If you are still not sure which is better for you, a professional Indianapolis Ford dealership can walk you through the different details and options available.