Due to the increasing amount of vehicles on the road, a lot of people are looking to lease used cars in san diego. Leasing a used car provides many benefits such as not having to pay for depreciation on your vehicle and you’ll probably be able to get better terms with your lender.
Here are the pros of leasing a used car:
No Depreciation
One of the main reasons that people choose to lease a used car is because they will not have to take into account the depreciation on their vehicle. When you buy a new vehicle you have to subtract the value of the vehicle from the amount you owe on it each month. This is called depreciation and it’s not something that you have to worry about when leasing a used car.
Better Terms With Your Lender
The terms of your lease will be determined by your credit score, income, and your overall debt load. With a new car you are expected to have a 10-year lease because the financing department usually expects you to pay off the car at the end of that time. With a leased car, you can lease it for as long as you want and when all is said and done, keep your car or sell it if you choose to do so.
No Monthly Payment
A lot of people who buy a new vehicle find that they do not have enough cash on hand to make auto payments each month. This is not a problem when you lease a used car because you will pay a down payment, followed by monthly payments, but at the end of the lease, you will only make one payment which will include your down payment and the residual value of the vehicle.
Flexibility
With leasing, most people can change their minds and terminate their lease in most cases with no penalty or extra fee whatsoever. When you are leasing a new vehicle you no longer have to feel trapped with your decision because you can simply change things as necessary.
