If you’ve spent any time recently searching for a used car, you have probably realized that the state of the used car market is far more seller-friendly than ever before across the entire United States. This fact may leave you wondering how you’re going to afford the car that you want, let alone even find one worth buying in the first place.
At Drivrz Financial, we understand how frustrating the entire process of picking out a used car can be, and we’re here to tell you that there is a way you can afford the car you want and love. Used car leasing has become a hot topic lately because it provides many benefits to buyers that they can’t find with leasing new cars, let alone buying a used car outright.
Today, we wanted to discuss some of the benefits of leasing a used car and why it can be the ultimate solution to getting behind the wheel of your next dream car.
Benefits Of Leasing a Used Car
In many cases, the benefits of leasing a used car are similar to those that come with leasing a new vehicle. However, there are also ways in which leasing a used car is better. These are just a few of the ones the financing pros at Drivrz Financial think are the best ones!
The monthly payment that you have when you’re leasing a car goes toward the vehicle’s deprecation. Fortunately for you, most of the depreciation in a new vehicle comes during the first two years of ownership, which means there is far less gap and depreciation to cover with a used car lease. You’re also paying less for a used car than for a newer one, so the inherent savings on the cost of the vehicle alone are already there.
When your financing gap is lower, as it is when leasing a used car, you’re able to create savings on your gap insurance instantly. This is because if you were to get into an accident and the car was ruled totaled, the buyout value is far less due to the depreciation.
Turn It In. Walk Away.
Just as you can with a new car lease, when your lease terms expire on your used car, you can bring it back and turn it in, then walk away if you want. Many terms are two to three years, just like with a new car lease. This means you can keep getting high-tech infotainment and driver safety features by upgrading or getting another used car lease every time your current contract expires.
It’s no easy feat to find the right car to fit your needs, and that matches the luxuries, handling, or other features that you’re looking for. But with the financing pros at Drivrz Financial, we are there to help ensure you get the financing you need no matter where in the US you’re leasing a used vehicle!