Cars are an important commodity. If you cannot buy one for any given circumstances, you can opt for enjoying the benefits of a car lease for a comfortable commute to work. Here are some of the benefits of a car lease versus purchasing a vehicle outright:

1. Affordability

One of the main reasons why people opt for leasing a car over buying it is due to financial constraints. The monthly payments for a car that is leased will be much lower than what one has to pay when purchasing through a loan. There is no principal to pay here, just the amount of depreciation of the car for the duration of the lease.

2. Maintenance

Another prime benefit of a car lease is that you don’t have to spend much on its maintenance. The vehicle is generally covered under the manufacturer’s warranty. Most manufacturers include regular maintenance benefits and free oil changes under this warranty. Note that any damage caused by you will be your responsibility and are not covered under the warranty.

3. Access to a better model

With the option of a car lease, one is presented with the option of opting for a higher model of a car than what can be afforded. This way you do not have to compromise on what you drive and get what is best for your needs. This benefit makes it ideal for those who have a penchant for upgrading their cars every now and then.

4. Ability to switch to the latest technology

Opting for car lease allows for the user to switch vehicles after every few years. This makes it easier to opt for a car with updated technology and system without having to worry about spending a bunch buying it. Updates in the infotainment system, cruise control features, and other safety features keep evolving every now and then. With the option of leasing a car, it becomes easier to drive the top model even with a low to moderate monthly budget.

5. Easy to trade-in

There are a lot of hassles one may have to face when wanting to get rid of a car either by selling or trading it in after buying it. You have to worry about what cost it will get and may have to negotiate to get a good offer. When you lease a car and are done with it, all you have to do is return it to the dealer. As the residual value is set before the leasing period, there is no need to negotiate or go through unnecessary pain of pricing. You can either drop it off at the dealer or opt for another newer model once the leasing period is over for the current one.