Leasing vs Buying a Used Car
When most drivers think about leasing a car here in the Indianapolis, Avon, and Plainfield areas, what they’re really thinking about is a brand-new vehicle. While this is a great way to get a new car with lower payments, the price may still be a little steep for some.
However, leasing is still in option with a younger, well-maintained used car, too, and it comes with many benefits. We’ll show you all of them in this article by the Andy Mohr Automotive team.
Have you ever considered leasing a car before? If not, you may not even be certain of the many ways in which it differs from buying. To understand the benefits of leasing used, the fundamentals are a necessity.
When you buy a car, you’re the owner. And what you’re paying for is the vehicle’s full retail price, broken up into digestible monthly payments. Depending on the price of the vehicle, these could be very high in some cases. But eventually, you’ll have them paid off and then the car is yours to enjoy, payment-free.
A lease is more like borrowing a car long-term. On average, you’ll be driving the car for a few years. And during that time, all you’re paying for is the cost of the depreciation it undergoes while in your possession.
Since you’re only paying for depreciation, lease payments tend to be far lower. However, being that the car does not truly belong to you, you can only put so many miles on it, and may face extra charges for any damages.
Leasing Used: Get More Bang for Your Buck
Now you see that leasing a car for a few years can result in far lower car payments—and that’s a brand-spankin’-new car that we’re talking about. So, if you found a great certified pre-owned car to lease, the payments would be even lower! Ultimately, that’s a great deal.
And truly, with the already high quality of the used cars at our dealership, you’ll hardly be able to tell they’ve been driven before. We thoroughly inspect and refurbish all these cars before they end up on our lot, so that they drive like new for you.
The Ideal Candidate for a Lease
Of course, leasing isn’t for everybody, and there’s a very simple reason why: some people prefer commitment with a car. And nothing screams “long term” quite like purchasing a car outright.
However, some of us like to try new and different vehicles. Instead, you might be the type to buy a car and trade it in after a few years for something newer. In that case, you’ll be better suited to lease your next used car.
Speak to Our Finance Team About Leasing Your Next Used Car
If you’re on the fence about whether you should lease or buy your next used car, you can always talk to the Andy Mohr Automotive team. They’re happy to help all Indianapolis, Plainfield, and Avon drivers make the right decision. Contact our team today for more information!