Advantages of Used Car Leasing

Used car leasing operates in much the same way as leasing a new car but with the added advantage of lower payments, thanks to depreciation costs that have already been absorbed. Leasing a used car works particularly well with luxury vehicles, which tend to hold their value. This means, of course, that you get the benefit of owning a luxury vehicle at an economical price, or more car for less money.

Leasing a used car has the same advantages as leasing a new car. Leasing a car does not require a large down payment. You get to drive a newer model car and you save on upfront costs, while increasing your cash flow. The sales tax is spread out over the term of the lease and is only for the amount financed. If you use your vehicle for business purposes, there are tax advantages which allow you to write off an amount up to the entire lease payment, in some instances. Another advantage is that at the end of your lease, you can simply turn in your car and lease a newer model, if you want. You do not have the hassles of a trade-in. By leasing later model cars, you get the benefit of newer technology, and you save money on the cost of servicing that is usually associated with older cars.

Another type of individual who would benefit from leasing a used car would be someone who is accident prone. If you have an accident, your insurance company will pay, but the sales value of your car would be diminished. When you lease, this liability is passed on to the leasing company. Last, you can usually buy the car at the end of the lease if you have fallen in love with it. Leasing a used car is a way to try out a particular model without getting locked into purchasing it, if you decide you don't like it.

For a great selection of quality used cars available for lease, be sure to visit LP Auto. We will be happy to answer any questions that you have about how used car leasing would be advantageous for you.