Summer is coming to a close and you’re probably looking to trade in that convertible for an SUV that can brave the intense Texas snow we’re due to get. Okay, that may be a slight exaggeration. Truth is, data shows that now is the time that most people consider buying a new car. Maybe it’s easier to trade in a car rather than clean out all the sand your dog brought in over the summer.
If you’re in the market, or have been in the past, you’ve probably been offered to lease instead of buy your new or used vehicle. Most choose to buy, probably because they like the idea of truly “owning” their vehicle, but many never get to the point of actually owning their vehicles.
The reality is, leasing is a smart, money-saving option for certain types of customers. However, the same holds true for buying for other types of car buyers. It just depends on you.
When to LEASE
You Always Want the Latest and Greatest: If you usually trade in your car before your contract ends because you enjoy that new car smell, you’re the perfect candidate for leasing. You never truly owned your car because, while it’s being paid off, it’s owned by the bank. Instead, you’re losing money because your car’s depreciation takes a giant chunk out of your trade-in value. Leasing allows you to have a shorter term, guaranteeing a shiny new (or used) vehicle every few years.
- You’re Fancy and Frugal: You may love the idea of having all the bells and whistles. Heated seats, Bluetooth, backup camera, all necessities right? Unfortunately it adds thousands to the cost of the vehicle, driving up the monthly payments to a point well beyond your taste. With leasing, your monthly payment for that fully-loaded car is comparable or less than the stock, basic version, allowing you to enjoy your “necessities” without breaking the bank.
When to BUY
- You’re an Ultra-High Mileage Driver: If you drive more than 25,000 miles a year, then buying is your best bet. Once you go over the maximum allowed in your lease, you have to pay extra cash for each mile you go over. At that point, the money-saving benefit of leasing diminishes.
- You Keep Your Car Well Into Its Golden Years: Have you had your car for 7, 10, 12 years? Are you proud of driving around in a “classic”? If this is you, you’re definitely better off buying your vehicle. You may not have an aux input for your music, but the freedom you get from not having a car payment is well worth the minor inconvenience.
If leasing is right for you, then FairLease is your new best friend. Just like their name says, they provide fair leases to people just like you. They’re so fair, if you fall under the “when to buy” category, they’ll advise you to buy. FairLease is up front, and you’ll never feel like you’re getting the run-around. Here’s what you do get:
- $0 Markup on Vehicles: FairLease gets a fair price for your vehicle on your behalf.
- No Early Termination Fee: Decide you want to stop leasing or start a new contract with a different vehicle? No problem!
- Terms from 12,000 to 25,000 Miles: You can choose the plan that fits your driving habits. And if you go over, you only pay $.10 per mile. That’s well below the industry standard!
- A Personal Consultant: From start to finish, their consultants will work in your best interest, no surprises.
You can contact FairLease directly at 1-800-NEW-LEASE or online HERE.