Lease of Life: Why Lease A Luxury Car?

Always wanted to drive a luxury car? The option may be within reach if you’re willing to consider a lease. When you lease a car, you rent it instead of owning it. This does mean that you can’t modify it or sell it, however it does come with some unique perks that can make driving a luxury car more affordable and simple. Below are some of the main reasons to lease a luxury car.

Get access to the latest models

New models that might otherwise be too expensive to buy are attainable when you choose to lease. In fact, lease deals are more common with newer vehicles than older vehicles. You’ll get access to the latest technological advancements and safety features. You also don’t have to worry about any prior damage and can enjoy that new car smell as you drive your new Cadillac or Mercedes-Benz out of the forecourt. 

Enjoy lower monthly payments

Leasing comes with much lower monthly payments than buying a car on finance. In many cases, you’re only paying for the depreciation. This means that you don’t have to be making as much money to afford monthly payments. This is a significant reason as to why many drivers choose to lease.

Benefit from full warranty coverage

Many luxury vehicles come with comprehensive warranty coverage throughout your lease. This means that you can drive a Lexus or a BMW without stressing about repair costs. It’s worth noting that not all repairs may be covered by this warranty, however most wear and tear should be, and you may also be entitled to free annual servicing. 

Experience a variety of vehicles

While some people love the idea of driving the same car for a decade, others can get bored having to drive the same vehicle. Leasing provides the option to try a new car every 2 to 3 years depending on your lease length. You can lease a sporty Porsche for 2 years and then swap this out for a brand new premium Audi SUV. It may allow you to adapt better to lifestyle changes rather than having to be tied into lengthy finance schemes.

Avoid the resale hassle

Selling a car does allow you to make back some money. But it can be a tedious and frustrating process. An advantage of leasing is that you don’t have to worry about posting adverts online or negotiating with buyers - you can instead simply drive your car back to the dealership and then swap it for something new if you desire. If you’ve struggled to sell cars in the past or simply find it to be a nuisance, consider whether leasing could be a good way to free yourself of this burden.

Conclusion

Leasing will give you access to newer models while saving you money each month. You don’t have to worry about the resale process and you get to experience a variety of different cars. Maintenance is also covered. Leasing does mean that you will have to follow restrictions - such as mileage limits and not being able to modify your car. However, if these aren’t a concern to you, it could be a worthwhile strategy for affording a luxury car.