Whether you need a car for your business or pleasure, you’ll find that leasing a car is a smart choice. In fact, you’ll save a lot of money, and get to enjoy your new car while paying off your payments.
Unlike buying a car, leasing a vehicle means renting the car for a set period of time. This allows you to take advantage of new and expensive cars without the burden of paying for the car out of pocket. A car lease also provides a number of perks, including maintenance coverage and manufacturer warranty.
The cost of leasing a car varies by the car you are leasing, its age, and its type. Some vehicles have more expensive monthly payments, but these may be offset by lower annual mileage. The length of the lease can also affect the cost of leasing a car.
Typically, car leases last three or four years. You can choose to buy the car at the end of the lease. This can save you money, as you don’t have to pay sales tax on the car. Buying a car at the end of the lease may allow you to write off your car’s maintenance expenses.
Some jurisdictions only tax your monthly payments, while others tax the entire value of the car. You may be able to deduct your car’s depreciation costs. If you own a business, you may also be able to write off your mileage expenses.
Lease agreements are usually priced to cover the cost …Why Leasing a Car is Smart Read More