How Do You Lease A Car With The Option To Buy?
Leasing a car is a little like long-term renting. It’s a great option if you want a new car but have little capital, or if you want a fancier car than you can afford to buy. Monthly payments are significantly lower than when you buy outright, but the number of miles you can put on the car is restricted. Is leasing the right choice for you? Read on. Step 1 Assess your needs: For people who drive many miles each year, or who want to keep a car for many years and want the option to sell later, leasing a car is not the way to go. Step 2 Determine how many miles you drive annually. Different manufacturers have different yearly allowances on mileage, which helps determine which car you choose. Many leases now are for only 10,000 miles per year, whereas they used to be 15,000. The extra charge for mileage can be substantial, often 20 cents per mile over the allowance, and when you’re driving to work every day, that adds up quick. Often you can purchase extra miles up front, but this cost chan
Leasing a car is a little like long-term renting. It’s a great option if you want a new car but have little capital, or if you want a fancier car than you can afford to buy. Monthly payments are significantly lower than when you buy outright, but the number of miles you can put on the car is restricted. Is leasing the right choice for you? Read on. Assess your needs: For people who drive many miles each year, or who want to keep a car for many years and want the option to sell later, leasing a car is not the way to go. Determine how many miles you drive annually. Different manufacturers have different yearly allowances on mileage, which helps determine which car you choose. Many leases now are for only 10,000 miles per year, whereas they used to be 15,000. The extra charge for mileage can be substantial, often 20 cents per mile over the allowance, and when you’re driving to work every day, that adds up quick. Often you can purchase extra miles up front, but this cost changes the lease
