For many people, leasing offers some very clear advantages over buying a car. Here are some typical reasons you may want to consider leasing a vehicle over buying one:
Lower Monthly Car Payments – Monthly lease payments are typically lower than monthly finance payments because you pay only for the value you use.
More Automobile for the Same Money – A lease allows you to obtain a more well-equipped vehicle than you could receive for the same, or more money, under a financing agreement.
Pay Less Depreciation – Leasing helps protect you from vehicle depreciation. Your monthly lease payments are based on the value of the vehicle used at the end of the term, not the entire value of the car. You pay for depreciation only for the lease term. Plus, you have less depreciation risk with a guaranteed residual value.
New Car More Frequently – With a lower monthly cash outlay, you can, for example, have a new car every 24 or 36 months. This contrasts with being locked into long term financing.
Typically people who plan to get a new car every few years will find tremendous value in leasing. If you like to keep your vehicle for a long time or put excessive mileage on your car, leasing may not be the best option for you. Here are some frequently asked questions about leasing.
We’ll help you lease your next car! When you are ready to lease, be sure to use GECU’s Car Buying Service: MAAP (Member Automobile Assistance Program). This FREE service could save you hundreds of dollars on your new or used vehicle lease. You won’t want to lease a car without first talking to the representatives in MAAP.
You’ll need to insure that new car! Before you drive off the lot, make sure you are covered. Turn to
Insurance Services in the Financial Mall for competitive insurance rates.
