Let's say that your old car finally ran its last course. You need a new car, and you need it fast. Of course, you can simply buy a new car or take out an auto loan to pay back later. However, a much more attractive option for many is leasing. What is leasing and when is it the better option when financing a new car? Both buying and leasing have their own advantages in the same way that buying a house vs renting an apartment has different ups and downs. We've previously discussed both the options of buying and leasing that can be found on our Silver Star Motors website. However, when is buying the right option for you? When is leasing the right option for you? The most important factor when deciding if you should lease is your financial situation and whether or not you find a vehicle you want to keep.
What makes the most financial sense? Of course, buying something outright will cost a lot more initially, but will be more cost-effective in the long run. You will be paying more in the present, but the total cost will be less in the future. However, it's unrealistic to assume that every driver and potential customer has the option to buy a new car outright. Many consumers have a strict budget, and can't spend several hundred more dollars a month on top of other costs of living. Therefore, they shift to the option of leasing.
Leasing means that you don't buy a car, but instead basically rent it. During a leasing contract, you have joint ownership of the vehicle along with the dealership. Since you don't have direct ownership, your monthly payments will be much less for leasing when compared to buying. Leasing can sometimes be up to half the cost when compared to the standard of buying payments. Another appealing incentive of leasing over buying is that you have more options. If you buy a car, that car is yours. If you don't like it, or if something goes wrong with it, all of the problems are on you alone. However, leasing allows you to switch to a new vehicle after your contract is up. Additionally, you can extend a contract or even pay the remaining cost of a vehicle after your leasing contract is done to then fully own the vehicle. If you are looking to lease, you can find an incredible variety of luxurious and affordable cars here at Silver Star Motors. Find a mid-size luxury coupe in the newly released 2018 Mercedes-Benz CLS for the sedan driver. Or, perhaps, you need a stylish SUV, like any of the many 2018 Mercedes-Benz G-Class vehicles. Those looking to please can even lease a high-performance sports car in the 2018 Mercedes-Benz SL roadster. Feel free to browse the rest of our inventory and address any further questions to our sales team about leasing options and calculations. With so many vehicles available, we can help you find an affordable plan to help you drive off in a luxury car. Silver Star Motors is located in Long Island City, New York within the borough of Queens.