Car leasing is a hassle – free way to get your brand new car.
Many people are apprehensive about leasing because the benefits over purchasing are unclear. After all, why lease a car when you can own it and get some money back when you sell it? Depending on your personal preferences, lifestyle, and financial situation leasing can be packed with advantages.
From lower monthly payments to even more vehicle options, here’s why leasing a car might be right for you.
What are the benefits of leasing a car?
Leasing is similar in theory to renting an apartment. As the person leasing the car, or the lessee, you are paying some initial fees along with monthly payments to use the car, but you don’t actually own it. Every lease agreement has terms and conditions you must adhere to and at the end of the agreed – upon term, you return the car to the leasing company. This type of arrangement has several benefits that could make leasing a much better deal for you.
1. Lower monthly payments
One of the greatest advantages of leasing a car is typically lower monthly payments than if you were obtaining financing to purchase the car.
When you finance a vehicle purchase, you pay the entire purchase price of a vehicle over the life of the financing plus interest. But lease payments are calculated a little differently.
Instead of paying for the entire value of the car, your monthly payments cover the vehicle’s depreciation (plus rent and taxes) over the lease term. Since you are only financing the depreciation instead of the purchase price, your payment will usually be much lower.
These savings can help you either upgrade to a newer, more desirable model for your budget or save money each month on a less expensive car payment.
2. Lower repair costs
Because lease terms are so short, most repairs will be covered by the manufacturer’s bumper – to – bumper warranty. In some cases, the manufacturer will cover maintenance costs. When reviewing your lease agreement and warranty or maintenance agreements, be sure to understand what repairs and maintenance are covered to avoid unexpected vehicle service bills.
3. Less cash required at drive off
Down payments for a vehicle purchase can run up to 20%, but a lease often requires little to nothing for a down payment. You will typically have to pay the first month’s payment, taxes, title and registration fees, and perhaps an acquisition fee or other fees when you sign the lease, but the cost is usually less than the cash you would need to put down on a car purchase financing.
4. You don’t have to worry about reselling it
For closed – end leases, once your lease is over, you just return it and move on to your next car. There’s no hassle trying to resell it, and the value of the car at the end of the lease is the leasing company’s responsibility, not yours. You may still be liable for additional amounts at the end of the lease term, including excess wear and use and excess mileage.
5. You can get a new car every few years hassle – free
Car leases usually last between 24 and 48 months. Because lease terms are relatively short, you can drive a new car with the latest technology and safety standards without the commitment or hassle of trying to purchase or sell your current one when it’s time to upgrade. Once your lease ends, you simply return it to the dealership, choose your next vehicle, and sign a new lease.
6. More vehicles to choose from
Many people have their eye on a dream car but may have a hard time qualifying for financing to purchase. Leasing a car, however, opens the door to more expensive models and trim packages since it typically comes with a lower monthly payment for the same vehicle. This gives you more flexibility with your vehicle options so you can choose the one that best fits your lifestyle.
7. You may have the option to buy the car at the end of the lease
Leases often include an option to purchase at a predetermined price. You may choose to execute this option if you love your car or the purchase price is less than its value. On the other hand, you can walk away if the purchase price is more than the vehicle is worth.
While that may leave you regretting not buying it from the beginning, it gives you a chance to “test drive” the vehicle for a few years before committing to it long term.
Z&X Leasing Services Provided
- Service (scheduled service and unforeseen failures)
- Body shop repairs
- Change of tires
- Insurance (Third Party, Liability Insurance)
- Road taxes
- Road assistance within the area controlled by the republic of Cyprus, 24 hours a day
- Temporary replacement car in case of breakdown failure, or accident
- Replacement of your car in case of total loss
- Accident management
- Delivery of new vehicles at the place of your preference.
- Pick up and delivery from your workplace for scheduled services upon request.
- Additional insurance against natural causes, terrorist attacks, partial/total theft, rupture of glass, fire etc.
- Maintenance at authorized dealerships service locations.
Lease your next car through Z&X Cars
With Z&X Leasing you can choose the model and specifications of the vehicle that best suits your needs. We will offer it to you new or up to 5 years old, with a Buy Back or without option. You will choose your mileage, duration and leasing package, we will set the contract details and you will drive away!
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Our customer service team will be very happy to answer any questions you have about Car Rentals Cyprus therefore please do not hesitate to get in touch by phone, email or post.
Address: Shop 1, Central Park Residences, 6 April 1st Street 8011, Paphos Cyprus
Support Phone: +357 26 945222
E mails: firstname.lastname@example.org
Office Hours: Monday – Friday 8AM – 5PM