Do you prefer to upgrade vehicles frequently because of the latest styles, technologies, or changing personal preferences? If so, a lease may be a good choice. Leasing allows you to get a new vehicle more often.
A Different Way to Buy.
A lease is simply an agreement for the use of a vehicle for a fixed period of time at an agreed amount of money. The key difference in a lease is that after the primary term (usually 2, 3, or 4 years) the vehicle has to be returned to the vehicle manufacturer or purchased by the lessor. When financing, you pay for the whole vehicle, but with a lease, you only pay for the depreciated value of the vehicle over the term of the lease.
With a 3-year lease, your vehicle is under warranty and the factory will cover the cost of most repairs. Plus, a brand-new car is unlikely to have dead batteries, need new brakes, or require costly repairs.
You don't have to worry about resale value with a car lease. If the value of the vehicle drops while you’re leasing, it doesn't affect you. If, on the other hand, the vehicle holds its value better than expected, you will be able to buy the vehicle at the end of your lease for a bargain price.