Auto Leasing Daytona Beach

Can leasing save money?

The expense of leasing a car compared to the cost of buying one is not a black-and-white issue; it all hinges on how long you intend to have your vehicle for. Studies on car ownership, leasing and depreciation recommend a three-year lease as a financially sound stretch of time. From a short term standpoint, leasing a vehicle for a duration of three years can make for a smart decision financially; deposits on leases are low, your monthly expenses will be lower than an auto loan payment, and you will typically not need to worry about repair fees. The highest cost linked with paying for a leased car will be insurance, which is considerably more expensive for a lease than a car you own. If you buy a car, your payments will be much greater up-front, but when you've owned it for 10 years or so, it will likely have been paid off, your insurance will typically be lower, and you will have the option of selling for a percentage of its original value. So what does this mean? As a near future solution, leasing is a good solution to cut the costs of owning a car, but in the long term, purchasing a car could save you money. For this reason, some people opt to enter into one or two lease periods to save money before purchasing a car. However, you will find people who lease cars all their lives and enjoy great results with the process, just as there are people who always buy outright. Ultimately, deciding to buy or to lease is really a question of personal preference.