Perhaps you’ve been in this scenario before: you walk past an exotic sports car, parked on the side of the road, and stare at it forlornly, catching your own reflection in the window and wishing that you were the type of person who could afford such a vehicle. Well, you can.
You may not know it yet, but when you lease a luxury car as opposed to buying it, things get a whole lot less expensive. How? Well, vehicle leasing means lower monthly payments, since you’re not paying exorbitant loan rates. Also, while buying and financing a vehicle means the sales tax is due immediately, when you lease a car, the sales tax is due on each monthly payment, making it much more manageable. For the customer leasing the vehicle, the future value of the vehicle is of no concern, so you don’t have to worry about depreciation (which can be especially brutal for sports cars).
It’s not like this is an entirely new concept. Leasing a vehicle now accounts for over 31 percent of retail new car sales (as of 2016, when the last figures were taken). It makes total sense too; these days, with rising new car prices, and car loans going up to seven years, buying a luxury sports car would be out of the question, but you can afford to lease one.
Leasing Your New Sports Car
For those looking to drive an exotic sports car, leasing provides a great alternative to purchasing or financing your sports car, especially if you’re not planning on taking for long trips. And if you like the sports car at the of the lease term, you will always have the option to purchase it. No worries about trade-in valve. The significant portion of your exotic sports car depreciation is in the first three years so your cost, if you want to purchase or finance, will be much lower.
– You can have lower monthly payments, meaning that you free up money for more important things.
– You can drive a better car, like an exotic sports car for less money.
– Your repair costs will be lower because you will be under the manufacturer’s warranty, which is especially important with exotic cars, whose parts are often prohibitively expensive.
– Leasing gives you the opportunity to drive a new car every two to three years, meaning that you’re always on the cutting edge of what’s out there.
No, you may not be able to buy an exotic sports car, but you can probably rent one. With lower monthly payments, manufacturer’s warranty, no down payment and no worrying about the cost of depreciation, you can drive your dream car when you lease instead of buy. So if you’re the kind of person that stares longingly at nice cars on the street, just remember that you too can drive that car. It’s within your reach.