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Why Not Lease a Car? Quincy MA

Someone who is currently leasing a car wants out of their lease. It might be for financial reasons, health reasons, a divorce, or that they simply want another car. They leased the car less than three years ago (most leases are 2-3 years) before the economy went sour.

Why Not Lease a Car?

Many automotive consumers understand that car leasing offers low monthly payments but question whether it has drawbacks that might make it a bad choice for them. The answer is, yes, leasing has potential disadvantages and there are reasons that some people should not do it. Let's take a look.

Do Not Lease, If ...
Do not lease your next car if your lifestyle is not settled and stable. If your job is in jeopardy, or you are about to get married, or you have an illness or poor health, or you might get divorced soon, or your finances are shaky – you should not lease a car. Any of these factors my cause you to not complete your lease as you originally agreed to do. Leases are designed to be completed as scheduled and can be very troublesome and costly to terminate early. Some of the most common complaints about leasing come from people who want to get out early and find it so difficult. If you think there is a chance you might have to end your lease early, then don't lease. It is much easier to get out of loan than a lease.

Do not lease your next car if you drive a large number of miles. Leasing saves money for people who drive about 15,000 miles a year or less — because depreciation, for which leasing pays, is only about half the total value of the vehicle. More miles means greater depreciation and a larger chunk of a vehicle's value, which makes leasing less beneficial. Even if you buy the extra miles you'll need, leasing makes less se...

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