Pros of leasing a vehicle:
- Lower monthly payments: Lease payments are typically lower compared to loan payments for a new vehicle
purchase. - Lower upfront costs: Leasing often requires a lower down payment or sometimes no down payment at all.
- Access to newer models: Leasing allows you to drive a new vehicle with the latest features and technology.
- Warranty coverage: Since lease terms typically align with the manufacturer's warranty, repairs and maintenance
costs are often covered.
Cons of leasing a vehicle:
- No ownership equity: Unlike buying a vehicle, leasing doesn't build equity or provide an asset to sell later.
- Mileage restrictions: Lease agreements often come with mileage limits, exceeding which may result in additional
fees. - Penalties for early termination: Terminating a lease early can lead to penalties and additional costs.
- Limited customization: Leased vehicles typically have restrictions on modifications or customization options.
***It's important to assess your personal circumstances and preferences to determine if leasing a vehicle aligns with
your needs and financial situation.
If you truly love it, don't just date it—marry it!