Car leasing is now become an alternative way of various businesses to save great amount of money. From the owner’s point of view, leasing vehicles at least generates monthly income and the vehicle still remains the property of the owner. They can also lease it over to another customer when the previous lease agreement has expired. Or better yet, they can re-sell the car for a good bargain, still profiting from it.
While most business owners practice this kind of style, consumers also typically adhere to this kind of practice for several practical reasons which benefit them also. The most economical benefit consumers can get is that they can avail a car without having to pay the usual high amount one needs when actually buying a car. They only have to pay monthly rates for a selected period of time and they can immediately have the car compared to paying the whole price of a vehicle when buying it outright. Car leasing allows consumers total ownership of a chosen vehicle for a particular period of time without worrying of the car’s future. When the original lease has expired, they simply return it to the owner in good faith. And again, consumers have the option to select another model in particular without worrying about the value of the vehicle. The owner, in return, doesn’t have to worry too much about the value of the car. Aside from re-selling it again at a good price, consumers typically turn into leasing used cars, thereby generating repeat-costumers, and of course, income.
Aside from putting depreciation aside, consumers also enjoy almost total maintenance-free vehicle. Normal car leasing period usually lasts between two to three years, and most modern automobiles had the capacity to withstand everyday wear and tear for that particular period. The most a consumer can probably pay will only be for regular check up like oil change and tire rotation. From this alone, much can be saved from the consumer’s pocket.
Economically aside, one of the perks consumers can avail when leasing a vehicle is that they can always change from one car to another after the lease, thereby making them stay on top of the line using up-to-date vehicles. Coupled with satisfaction of using the latest vehicle, consumers are also entitled of the latest technological and safety features of the car.
And back to saving money in particular, whether you are a business owner or an employee, leasing a car usually involves helpful tax deductions. The IRS grants tax benefits for equipment leasing, and car leasing belongs to a particular category. The deduction though depends on the car type and so on, but at least adds extra budget on the consumer’s pocket.
Compared to buying a new vehicle outright, car dealers generally impose easier qualifications to consumers, thus making it more accessible to everyone. Of course, there are exemptions to everything, but considering only normal and ordinary circumstances. Leasing a car offers both owners and consumers benefits. In short, it’s a win-win situation for both.
Ollie Goldsmith is Professional Writer and now has written about Car Leasing