If you love cars and you wish to obtain them at the lowest possible prices then you should try autoliising or car leasing. A car lease can be defined as a commercial finance product wherein the customer approaches a financier to purchase a car of the customer’s choice. The financier then leases the car to the customer and he/she will have to pay a certain sum of money every month. The sum is pre-determined and so is the time period for the lease. Having a car lease does not mean that you own the car; it simply means that you are allowed to use it on a rental basis. This type of arrangement is even more beneficial than a car loan!
Who should opt for autoliising?
Car leasing is the ideal solution for those who love driving the newest or the latest automobile models which hit the market but do not have enough financial resources to change their cars every now and then. Thus, if you are one of those people who love driving a new car every few years then auto leasing would work in your favor. After leasing a car and using it for a few years you can simply hand over the keys to the financier and move on to leasing some new model of vehicles.
Benefits of Autoliising
Autoliising offers a lot of benefits to people, however it is quite unfortunate that not many people are aware of it and hence they turn to traditional solutions such as taking a car loan. Now, since this type of arrangement calls for an upfront payment so there is no need to worry about the car’s depreciation at all. For instance, if the car to be leased cost about $40,000 and after two years its resale value after deducting the depreciation is about $25,000 then the lease figure would be just $15,000. This is the amount that the customer needs to pay in an installment basis every month. The calculations are made assuming that the customer drives an average of 12000 miles every year.
Thus, from the above example it is quite evident that a car lease offers a lot more in terms of value as opposed to a car loan. After all, the payments in terms of the car lease are lower than the selling price of the car; therefore it is of course a better deal! Moreover, unlike in the case of car loans, the customer does not need to have pristine credit reports or scores in order to take out a car lease.
Another benefit offered by autoliising is that it allows the customer to drive new cars every now and then. After the end of the lease of a car, the customer simply needs to surrender the keys and other documents and smoothly slide into a brand new car lease for another car. If you can keep up with the limitations of a car lease (for e.g: you never get ownership rights to the car) then you will find that this is a great solution for keeping more money in your pocket!
Save More Money in 2018
Subscribe and join the worldwide 52-week money challenge! Get the tools you need right to your inbox.