The Pros and Cons of Leasing
Choosing to lease a vehicle is essentially renting a vehicle, you pay monthly for a set term and then you bring your vehicle back to our dealership. This choice is good if you want to upgrade your vehicle consistently. Usual lease periods are around three years, giving plenty of time for new technology to emerge in vehicles, keeping you on the cutting edge. A lease is cheaper than buying, having you pay only the difference in value between the beginning and end of your lease term.
Leasing isn't the best choice for all however, as it brings many contractual limitations/agreements. Agreements under a lease contract typically include the number of miles you can drive (agreed at time of lease signing), the maintaining of the vehicle (e.g. oil changes, etc.), and an agreement not to modify the vehicle (e.g. Aftermarket additions such as spoilers, cheaper non-OEM components, etc.). So if you typically drive more than 15,000-20,000 miles per year, you like to modify your vehicle or do your own maintenance, you may be better off going the financing route.