Driving off the lot in a new car is an amazing feeling. Buying a car outright is nice, but if you’re just going to sell it the minute its paid off for a newer model, buying may not be the right choice. Leasing would be a much better option with even better financial benefits that would fit your lifestyle.
Most lease contracts span about three to five years. Most new cars are covered by the original factory warranty during that time so repairs are covered. All you’ll have to pay for is routine maintenance.
When you lease a car, you’re effectively “borrowing” it long term and not buying it outright. While not owning the car at the end of the contract can seem like a bust, keep in mind you aren’t actually paying for the whole car either.
How much you pay is determined by how much the car is predicted to be worth when your contract ends. The difference between the resale value and the new car price is what you pay over the course of the contract. The resale value is predetermined and doesn’t change once you’ve signed on.
At the end of the lease, you’re free to get another car or buy the old one outright. It’s up to you!