Choosing whether you want to lease a new car or lease a used car can be overwhelming. Both options provide you with what can feel like endless choices in California, that trying to decide which is best isn’t a decision you’re ready to make!
Fortunately, your friends at Drivrz Financial are here to help clear some things up for you to help you make the best choice for your budget, your wants, and your needs! And, yes, it’s possible to find the perfect car to meet all three of those things!
In many cases, it comes down to dollars and cents, and even for other buyers, it can be about connecting with a car. But whatever the case may be for you, it’s essential to understand the differences between used car leasing and new car leasing so you can make the best buying decision.
Today, let’s quickly look at the pros and cons of both leasing options:
PROS OF LEASING USED
Because of the low amount of depreciation that comes with a used car, your monthly payments will be lower than leasing a new model. You also won’t have to put as much down upfront for a used car lease as you may with a new car.
Upgrade Every Few Years
This benefit comes with both types of leasing and one that many drives prefer to take advantage of. If you were to buy a vehicle outright, chances are you’re going to own it for more than four or five years. This means the technology is going to completely change by the time you’re ready to buy again. With a used car lease, you’re able to get a vehicle that’s only a couple of years old and still has all the fancy and high-tech bells and whistles.
PROS OF LEASING NEW
When you lease a new car, many dealerships offer a warranty that typically lasts the entirety of your lease. This also means that all your repairs, for the most part, will be covered. This is because the dealership wants the vehicle to come back to them in tip-top shape so they can sell it when you’re done with it.
CONS OF LEASING NEW
Higher Monthly Payments
This is the most significant difference between used or new car leasing. Because the depreciation of a new vehicle happens mainly during the first two years of ownership, your lease payments on a new car will have to cover that amount. Higher payments can price the new car you want out of your budget range.
CONS OF LEASING USED
One of the best things about leasing a used vehicle is that the same types of cons come with leasing used. This is because you’re able to get the high-tech features, luxury, and sportiness you’re searching for without overpaying.
While you may find that some of the technology and features that you’re searching for came out after the used vehicle was made, you can still get a great, like-new vehicle and have the ability to trade up after a couple of years.
Wherever you’re at in your search for the right car to fit your needs, the financing pros at Drivrz Financial can help you get the financing you need. It’s time you got behind the wheel of that dream car and took it for a cruise around California! Call us today!