Should You Lease Your Next Car?
Why Some Financial Advisors Say It’s A Smart Move
While conventional wisdom is to own your vehicle, there are actually many reasons why you might want to consider a lease.
Many drivers enjoy the ability to change vehicles easily every 3 to 4 years, and leasing is a great payment option for a growing number of luxury car buyers. In addition, most accountants advise clients to purchase appreciating assets, and lease depreciating assets. This constitutes an automobile. Drivers can customize a Lexus lease for the exact number of years and miles that they need, essentially just paying for the part of the vehicle that they are actually using.
Since automotive technology is advancing so rapidly in terms of connectivity, electronic safety features, hybrid and electric power trains and autonomous driving elements, leasing is a perfect way to keep up to date with the latest available technology.
For families, vehicle needs can change quickly in terms of size and capability as children grow and age, so leasing makes it more convenient to switch vehicles every few years.
Although a Lexus is a super reliable car for the long run, many drivers like the security of leasing was well as limiting their future maintenance expenses. Leasing also eliminates any concern about future value and depreciation, because the buy out value is set from the beginning, with no obligation to the customer.
By: Tony Seyfert of Bobby Rahal Lexus