Leasing a new vehicle can seem like a great way to get a quality car for a low monthly payment; however, this is not the case. When it comes to spending your money smartly, buying a used vehicle from a reputable used car dealership like Dallas Lease Returns is often the better option. Before signing a lease contract on a new vehicle, consider these factors:
High Down Payments
While TV commercials advertise low monthly payments on leased vehicles in bold letters, the down payment necessary to get that low payment is often in the fine print. For instance, to get a low monthly payment on a leased vehicle, you have to put a quite a lot of money down at the time of signing. Without the down payment, the monthly payment on a leased vehicle is not going to be the great rate advertised on television.
Mileage Limitation
Another factor that allows leasing companies to advertise low monthly payments is the mileage restrictions they put on the lease contracts. If you go over the allotted mileage of your contract, you have to pay fees for each extra mile when you return the vehicle. This can mean thousands of extra dollars by the time your contract ends. When you purchase a used Dallas Lease Returns vehicle, your car is yours; meaning you can drive it as much as you want!
Responsible for Repairs
Any repairs that aren’t covered by the warranty of your leased vehicle are your responsibility. So if your kids spill paint on the backseat, or your dog nibbles a bit of the upholstery, you’re going to have to pay extra for “wear and tear” when you turn the car in.
You Leave Empty Handed
After you have invested thousands of dollars into a down payment and paid all of the extra fees, you’re left with nothing. When you turn in your leased vehicle, you don’t benefit from the amount of money you put into that car.
The leased vehicle goes back to the dealer so they can resell it, further increasing their profits. This leaves you looking for a new car to lease or purchase- without any equity.
Alternatively, when you buy a vehicle from Dallas Lease Returns, you will walk away with a quality car that is yours to keep. Even if you’re financing a vehicle with us, you will have equity in your vehicle after the loan term ends.
Why Choose Dallas Lease Returns
At first glance, leasing a new car may seem like a great option; but for your time and money, purchasing a quality used car from Dallas Lease Returns will have a better long term result.
At Dallas Lease Returns, all of our gently used cars are stored in a climate controlled, indoor facility. This preserves the quality of our vehicles, and also provides a comfortable shopping environment all year! To experience the Dallas Lease Returns difference today, click here to schedule a test drive.