How to Tell if Leasing a Car is for You

If you're used to buying vehicles, leasing a car can seem like a completely foreign concept to you. The vast majority of people have been buying their cars for years but, as economic trends change, more and more people are jumping on the leasing bandwagon. There are a variety of reasons to lease your next car, and you probably should if any of the following statements apply to you.

You are financially stable and have good or decent credit

The easiest way to think about leasing a car is to view it as signing a long-term rental contract. You want to make sure that you have enough money to keep up with payments, and that you qualify for a good leasing contract. There are plenty of sign and drive lease deals in NJ, but you'll have to be in decent financial standing in order to be approved for one. Financial stability is definitely a plus, but that doesn't mean that you have to be rich. In fact, leasing is a good option if . . .

You want to drive a more expensive car than you can afford

You always see people with the latest cars and wish that you could roll out in a vehicle as nice as theirs. Sometimes you can't afford to buy your dream car, but that doesn't mean that it is impossible to drive it. Leasing a vehicle can allow you to drive your dream vehicle without having to own it.

You take good care of your vehicles

Are you the kind of person that lets trash accumulate in your car? Can you not remember the last time you took your car in for an oil change? Are you generally bad with doing automotive maintenance tasks in general? If this mindset sounds nothing like you, leasing is a great option! When you lease, you don't just agree to eventually give the vehicle back, you also agree to return it in relatively good condition. Then again, if you get a leased vehicle and it has an issue, repairs might not be a problem because leased cars often come with comprehensive maintenance coverage. In other words, if your car needs an oil change or some kind of repair (not the accident-related kind), someone else will pay for the work.

Leasing is more popular now than ever before! Check out our lease deals at Gentilini Motors today, and drive home with the car you want at the price you need!

Why Leasing a Car is Right for You

After buying a house, a new car is the second biggest purchase that most of us make during our lifetimes. Since the majority of shoppers do not have enough cash on hand for this kind of transaction, most buyers look towards financing options for their new vehicle. The decision to either lease or finance to buy in this situation can be extremely confusing, especially for first-time buyers. You must take several different factors and aspects of your own lifestyle into account, while weighing the option to either buy or lease. This article can show you some of the reasons why a sign and drive lease deal may be right for you.

About Price – Why Leasing is Such a Deal

The age old adage about leasing is that you get "more car for less money," with a lease. This is due to the fact that the car's monthly payments are normally smaller with a lease because you aren't actually paying for the sales price of the vehicle, but rather what the depreciation of the car's value will be. The car's "predicted future value" is the amount that the vehicle is expected to be worth at the end of the term of lease, also called "residual value."

The residual value is then subtracted from the overall purchase price of the vehicle, and the remainder is the amount on which payments are based. So if a car's residual value is 55 percent after three years of use, that means a $30,000 car would be worth $16,500 at the end of the lease. You'd make lease payments on the remaining $13,500, rather than the full $30,000; there are, however, interest fees and taxes included within the term of a lease. 

The Other Advantages of Leasing

When it comes to putting down money for a lease, the amount due up front can range from zero to several thousand dollars. Thus, if you do not have a lot of money saved up for a down payment, looking into a special lease deal may give you a much wider variety of vehicles to choose from.

Leases are also great for people who get bored with their cars easily, as many only last about three years; once the lease is over, many auto dealers offer trade back deals for new models or different upgrades. Since you'd be leasing every few years, you could also guarantee yourself up-to-date technology and safety features in your car.

Additionally, since many new-car bumper-to-bumper warranties last for three years, the car is typically covered for the entire duration of the lease term. If you enjoy having the newest high-tech features, leasing could be better for you. And if you have grown fond of your car by the end of your lease, you can usually still purchase the vehicle at that point in time.

Therefore, if you like to keep your options open, and only want to put up a small amount of money up front, a lease may be perfect for you. Make sure to visit Gentilini Motors for the best sign and drive lease deals in NJ.