Publish Date - December 31, 2018
Author: Dale Peterson
Luxury Auto Lease
Leasing a Luxury Automobile
Driving a luxury automobile doesn't have to be a dream. You can make it happen now by leasing the car you REALLY want.
Why buy a less expensive automobile you don't really like and will take years to pay off? After you've paid off the auto you never really liked in the first place, you'll find it's worth much less than you paid for it. Plus, it will be hard to sell because one else really wants to buy an undesirable automobile either.
Can You Really Drive a Luxury Automobile?
Luxury automobiles are getting more and more expensive every year. Even people who make great money are getting priced out of the market. With how fast automobiles depreciate, it's hard to recoup the large amount of money you have to pay for a luxury auto. Additionally, luxury autos cost so much you usually have to put down a huge down payment before you purchase. All of these obstacles make buying a luxury automobile difficult for most people and all but impossible for others. There is another option to explore: luxury automobile leasing.
Why Lease a Luxury Auto instead of Buy One?
Automobiles are status symbols. Having the newest model of a luxury auto is even more prestigious. Luxury auto makers change body styles every few years to induce people to buy the newest style. If you have purchased, you may have years to go on your loan before it is paid off. Leasing is the perfect solution to this dilemma. Most leases last between 2 and 3 years. Once the lease is up you turn in the automobile and get a brand new one.
Save Money When Leasing a Luxury Automobile
Purchasing a luxury automobile requires a large down payment. You can be required to produce a cash payment of up to 20% of the vehicle's price. Leasing requires very little cash up front so it has little impact of your available cash flow.
Monthly payments for a luxury automobile can really break the budget. No matter how much you put down, the interest you pay on your large loan adds thousands to a luxury auto's already astronomical price. When leasing, you only pay for the luxury of driving the automobile for a certain period of time. Your payments are based on that number, not the full price of the car.
Leasing as an Alternative Financing Option
Some people know they love a certain luxury automobile and would love to buy it and keep it for years. The problem is affordability. The high price of the vehicle makes monthly payments too high to comfortably pay.
Other people find they are on the path to making lots of money but just aren't there yet. The problem is credibility. How can you be taken seriously if you are driving the Toyota Corolla you bought in college?
Leasing offers a solution for both of these obstacles to driving a luxury automobile. Leasing is a great alternative financing method. Use a luxury auto lease to get low monthly payments for the term of the lease. Then, refinance the residual value of the automobile if you decide to keep it. If you are making more money while in the lease you could either purchase the auto, if you wanted to continue driving it, or turn it in for something new.
Luxury auto leases can make your dreams come true. If you have good credit and a desire to drive only the best, explore your leasing options on myAutoloan.com.