For many young adults, getting a driver’s license or their first car is considered their rite of passage into adulthood. However, you shouldn’t rush out to buy your first car. Many don’t know that there are options aside from buying new or used vehicles. More should be looking at auto leasing, for instance. Many assume that buying is always a better option, but there are tons of reasons why leasing a vehicle might be more beneficial to a new driver. Here are 5 reasons why young drivers should consider leasing their first vehicle.
Leasing a car allows you to drive the car of your choice. Furthermore, you may be able to alter the lease terms or cancel it depending on the situation.
For example, you could switch from a small to a big car if your family situation changes, or you may be able to break the lease and turn in the car if you move somewhere where you don’t need or can’t take your car. This eliminates the hassle of trying to make car payments while your car is in storage, as well as the burden of making payments on a car you’re not even driving.
In addition, a lease makes it easy to trade in your current vehicle for a higher-end model, whether you want to impress or have found a better job. Furthermore, you can choose between leases based on the mileage driven, the length of contract, or some other situation.
Leased cars are owned by the lease company. They have to inspect it and prepare it before they make it available to the next customer. This makes leased cars, whether new or used, more reliable than a purchased used car. Because leased cars tend to stay with the lease company as it changes owners, there is no questionable service history, either.
Also, when leasing a car, you will most likely be driving a vehicle that is under warranty the whole time. Some people will buy a vehicle thinking that they will be selling it at the end of the warranty period, but many end up going over and exposing themselves to risk. With a leased vehicle, you won’t have to worry about replacing major components unless you’re directly responsible for the damage.
Since you’ll most likely be driving a new or barely used vehicle that has been thoroughly inspected, this also means that you’ll have a smarter and safer vehicle. Your car will have all the latest safety innovations on the market, and newer cars consistently do better when it comes to safety ratings. This is the time to focus on safety as a driver, and leasing a vehicle will ensure that you’re as safe as possible at all times.
Car leasing specialists will be happy to help you select the right car for your needs and your budget because they’re entering a long-term relationship with you. Consider consulting car leasing specialists like Vantage Leasing, because they can point you to Group 1 cars that have the lowest insurance rates, which is important given that new drivers pay the highest insurance rates. Vantage Leasing consultants will help you find the car you want with the right payment plan for you. They can help you get a customised new car as part of a lease agreement, containing all the high tech features you want and need.
A leased new or nearly new car is generally a better deal than buying a new car. For one, you don’t have to pay for the depreciation. Also, you will typically be able to get a better car than you could afford if you were making principal payments on it. This may allow you to enjoy a newer vehicle than what you could otherwise afford. You might be able to drive a one-year-old leased car instead of buying a five-year-old vehicle, for instance.
If you plan on trading in cars every year or two, leasing is far cheaper than buying new and then paying for the depreciation when you trade it in. There’s also no guarantee that you’ll be able to get rid of the vehicle in the time you’d like, or at a price you wanted. This means that you might be stuck with a vehicle you don’t want to drive anymore for a while before you can finally make the switch.
Leasing is an excellent choice for new drivers who want a safe, reliable, and fuel-efficient vehicle. It also provides the flexibility young adults need when they don’t know where they’ll be in life or the world in a year or two.