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Posted by NY Car Broker on 07/17/2018

Auto Leasing Pros and Cons

In modern American society a car is a totally necessary thing for living, especially in big cities, and the question of buying it sooner or later appears in every family. But what is the most advantageous way to get it? Not all families can afford to give ready cash for it. Then there are two most popular ways – credit and leasing. Today we’re going t speak about auto leasing and its advantages and disadvantages.

What actually means car leasing? In fact, it’s something between credit purchase and renting a car. You are choosing a car whose price and characteristics suit you, performing a start payment (the bigger it will be, the less will be all the following payments). Then you pay for the car usage during the time that is determined by contract, usually a couple of years. The car itself all this time stays a dealer’s property. The sum of monthly payments is unique for every car and a lot of factors can influence it, from the market price of the new car to the popularity of this very model among other second hand cars. 

The most obvious advantage of leasing a car is the fact that you don’t have to give the full cost of the car at once. Actually, you don’t have to do it at all. You receive a totally new car with full guarantee. The auto salon will take all the responsibility for its service and repairing. Even all the registration stuff will be performed by the company. All you have to do is to fill it with gasoline and drive.

But there are also certain disadvantages. As the car is not actually your property, you are not allowed to upgrade it as you want. After the ending of contract time, you’ll have to face three ways of actions – to buy it back, to give it back or to extend the time of using it. The car leasing contracts establish limits on the mileage, so be careful and think of distances, on which you are planning to go by car, because if you overshoot this limit, you will have to pay for each mile much more.

And the second serious disadvantage is the fact that you won’t be able to choose the insurance company to secure your car. The leasing company will do it for you, and the price of insurance may not satisfy you. So, it’s up to you to decide whether leasing a car nyc suits your needs or not, because it can be really a good way out for people wanting to have a car but not having the possibility to buy it at once. 

NY Car Broker 
906 Third St 
New York, NY 10017 
+1 646-780-8128 

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