Vehicle Lease - The Right Choice for You?

Shopping for a new car is a huge headache for me. All the different options, companies, makes and models. And know I have to worry about if the dealership or even the car corporation is going to be around in 4 years - or bankrupt or sold and chopped up into different companies. But still, it used to be that I didn't know if I should buy the vehicle or opt for a vehicle lease. After giving it a lot of thought, I've decided that a vehicle lease is the best fit, and here are my reasons.

A vehicle lease will essentially get you a new car - for half the monthly car payments that you would pay if you bought the car with your average car loan. Why? When you sign on for a vehicle lease, the amount you pay for the total length of the lease is much less than you would for a car loan. The reason for this is that vehicle lease is not really a rental - but a short-term ownership - and you already have a buyer and price lined up at the end of the vehicle lease. Confused? Let's look more at what leasing really is.

When you sign on for a vehicle lease, you essentially agree on a price to buy a new car from the dealership, who then sells the car at that price to a consumer car leasing company. The leasing company then leases the auto out to you - not the dealership. The vehicle lease will be for a set number of months, and you agree that at the end of the lease, you will sell it back to the leasing company at a pre-arranged price. The monthly payments you make each month are the amount of the difference between what the leasing company paid for the car from the dealership initially and the amount they anticipate the car to be worth when the lease is over, plus a little interest. In most cases, this means you only pay for half of the car's total price. A great deal for a new car.

The other thing I like about a vehicle lease is it protects me from the severe depreciation of an automobile. Nothing depreciates faster than a car, and it begins the instant you pull out of the dealership. A vehicle lease protects you from this. The one exception to this is if you plan on driving your car until it falls apart and can only be sold for scrap metal. In many cases, you'll save a car if you can drive it for 12 or 15 years, and that's assuming you don't get buried under maintenance and repair costs. No thanks, I'd rather spend a little bit more money over the long term and have a new car every 4 years, that's the benefits of a vehicle lease.

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