Interest rates have been really low and people have thought, "Why would I lease when I could buy with little or no interest?". Are there really good lease car deals out there?
You are either one of two types when it comes to owning a vehicle: You either want the new, updated, shiny version every three or so years or you just want a vehicle that runs and you keep it for ten years. If you are the one who wants a new one every three or so years and expect to always have a car payment in your budget, then you can find lease car deals, especially on the internet. Lease car deals work especially well for getting a more expensive car with a cheaper monthly payment than buying the same vehicle. Usually around 30-50% less, depending on the vehicle.
A new car lease comes with a warranty which covers a lot of repair cost versus a six to ten year old car that needs repaired.
If you know you're going to have a car payment in your budget, finding lease car deals are attractive because once you buy a new car and drive it off the lot, the value of that investment depreciates quickly. You're not going to get much equity out of your vehicle in three years, anyway so having nothing to show for your lease payment won't be a big deal.
Is there special conditions in your employment that would benefit most by finding lease car deals? The answer is yes. Individuals that own their own small business or self employed can use their vehicle as a tax write-off can benefit. However, keep in mind that leased cars do usually have a yearly mileage cap of 7500-10,000 miles.
Another group that can benefit from finding lease car deals is that good person with bad credit. In todays economy more and more people, unfortunately, fall into this category and it isn't always because they're poor business people, it's just the economy caused one's job to be dissolved. Sure can't get a job without transportation! Really good lease car deals are often a solution to this problem.
And lastly, say you really think you like a car that you could keep ten years (passing along to your newly driving teen, perhaps). You can lease for three years. Use this time period to determine if you really like the car and should you decide it's a good one to keep 'til the wheels fall off then you buy it out, often at a good price. If it's a piece of junk, turn it in and lease a different one to try.
The original article appears here:http://www.streetarticles.com/leases-leasing/is-there-really-lease-car-deals