People have several ways to get new vehicles when the time comes. Of course, most people will look at leasing vs financing, as new cars aren’t cheap. Both are popular options, but they are designed to fit two different styles of owning a car. In many ways, leasing a vehicle is better for those who don’t usually keep cars very long. However, there’s a bit more to the story that could help drivers decide between the two. 

Leasing a vehicle means you get quality

Many people decide that leasing a vehicle works best for them when it’s time to get a new or used model. This is because it has several advantages and works well with some people’s lifestyles. For starters, people who pick leasing vehicles get them when they are at their best. This quality level is especially true for new cars, as most car leases are only 36 months, although some are shorter. 

People who lease used cars also have this advantage, as drivers can typically only lease cars five years or newer. Again, this is often before serious issues show up in a vehicle. 

Money is a factor in the leasing vs financing a car argument

Many drivers pick leasing a vehicle over financing because it can be cheaper. In general, monthly lease payments are less expensive than what you pay when buying a car. Additionally, a car down payment isn’t usually required but could be for people with lower credit scores. The lower payments also mean that people may be able to afford more expensive vehicles. 

The other way leasing a vehicle could be cheaper is your contract may grant some free maintenance based on the warranty. Of course, this will depend on the dealer and your specific contract. 

Leasing a vehicle means there’s less to worry about

Leasing a vehicle also means drivers have less to worry about. This is the case because most people who finance know they’ll need to get rid of their cars at some point. However, these people have to concern themselves with resale value and changes in the market. Because people who lease turn their cars in, they don’t have to worry about trade-in values. 

Final thoughts

Leasing vehicles has quite a few advantages to financing. However, when it comes to leasing vs financing, it depends on what the driver wants. It works best for those who don’t want to own a car and want to get a different one every couple of years. Of course, leasing a vehicle means drivers have to adhere to mileage limits, and car insurance is usually more expensive. 

According to Cartelligent, leases accounted for 20% of all new cars in 2022. Leasing a vehicle works for many people, but there’s still much to consider.