Advantages & Disadvantages of Leasing a Car
Have you ever considered leasing a car? Well you are not the only one if your answer is yes. A lot of people pick the option of leasing a car rather than buying one because of the various positive points associated with it. But at the same time, one must also keep in mind the following things before going for a lease of a car:
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One of the interesting statistic related to leasing a car is the fact that the percentage of new cars leased increased from 1990 through 1999 but then it saw a decline from 2000-2005. Infact the average percentage of new cars leased is 18% of new cars vs. new cars purchased. A total of 6.5% of leased cars in America at present are acquired without a road test which is about 3% more than in the year 2007.
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There are many benefits of leasing a car rather than purchasing it and one of them includes the fact that leasing allows a person to drive a car which he/she might not be able to purchase otherwise. Infact leasing of a car may not demand you to pay a down payment as well. Another good point about renting a car is that the repair and maintenance costs are usually covered in the lease itself.
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But on the other hand, there are certain disadvantages which leasing a car comes with. Firstly, the mileage limit is 10000 miles per year as far as leasing a car is concerned. A leased car cannot be modified or customized in any way since a leased car always remains a borrowed car. Infact if you cause an excessive wear and tear to the car you have leased, then the lessor can hold this against you. Some of the best luxury cars to lease are GMC Yukon Denali, Cadillac STS-V, Jaguar S-Type and Audi A4 Cabrio.