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While most people prefer to purchase a car and then drive it forever until circumstances force them to invest in a new vehicle there are some benefits to leasing a car instead of buying one. While leasing is not for everyone here are some of the benefits that leasing a car can give you. Don’t forget, VIP Auto Lease Of Miami offers you the best prices on any make and model, guaranteed. This includes Mercedes, BMW, Nissan, Jeep, GMC, RAM, Cadillac, Chevrolet, Volkswagen & every other car model under the sun that is available in the United States.
When you purchase a car you normally have to make a hefty down payment or at least have a decent car to trade-in to off set some of the down payment. When leasing a car you generally only have to a small down payment or in some cases aren’t required to have any down payment at all.
Most people who purchase a car have to compromise between the high priced car they really want and something more affordable that can actually afford to make monthly payments on. Since leasing a car normally requires lower monthly payments that purchasing a car outright, you can afford to drive around in a higher priced car with more features than you normally be able to purchase.
When buying a new car your monthly payments can often be quite high really cutting into your budget. Even a good used car may be required monthly payments that can be quite significant. However, when leasing a car you often get lower monthly payments because you are only paying for a portion of the car’s actual cost instead of the whole price.
If you live in NJ and the car is registered here, the sales tax is only calculated on the total lease amount. The upfront costs can be far less than purchasing a new car.
If the vehicle is used for business purposes, it is possible for the whole lease amount to be tax-deductible. If the vehicle is split between business and personal use then only the percentage used for business can be deductible.
In almost all cases you must be 18 years old to lease a car. In some cases, a minor (with a valid driver’s license) can drive a leased car if a parent signs the lease.
Most car leases are between 24-36 months. Anything over 36 is considered long term. And in some cases, short term leases are available for 12-24 months.
It is more difficult to lease a car with bad credit but not impossible. Typically rates will be higher and a larger upfront payment might be needed.
Lease transfers are the safest way to end a lease early. There are companies that specialize in assisting those transferring the lease to others, allowing you to be out of the contract earlier than expected.
The lease contract usually stipulates that the borrower is responsible for the maintenance of the automobile. Basic expenses like oil changes can often be covered but this should be confirmed before signing. Penalties can be received for any additional “wear and tear” on the car at the end of the lease period.
Another benefit of leasing a car is that you usually have little or no out of pocket maintenance costs. Most lease cars are covered under the manufactured warranty, which often pays for scheduled maintenance and sometimes even free oil checks. In addition, most of the costly mechanical problems that develop in cars normally develops long after your lease would expire.
When leasing a car you can drive a new car about every 3 years. Since most people pay off one car before buying another they can only afford to purchase a new car about every 7 years since it takes roughly that long to pay off purchase price in full.
*Lease prices may reflect conquest, rebates, one pay or loyalty incentives. Please inquire for more information. VIP Auto Group is not franchised dealer.
*Zero down leases are subject to state taxes, bank fees, title fees, first month payments and registration fees.
VIP Auto Of Miami is a full service car leasing company that puts the power of buying a new car in the customer’s hands. Since opening our doors in 2007, we’ve made sure that our promise stays true: no pushy salespeople, no haggling, and a guarantee that to our dear customers that we will provide the lowest possible price with industry class service. We offer a best lease price guarantee in all of Miami-Dade County including Hialeah, Aventura Sunny Isles, Kendall, Homestead & Doral FL. Shop online for any make and model including Mercedes, BMW, Nissan, Jeep, GMC, RAM, Cadillac, Chevrolet, Volkswagen.