New car lovers, budget-minded urged to lease next car
The auto group says approximately half of all car buyers nationwide opt to lease rather than buy, often for reasons such as not planning to paying off the entire cost, not wanting to deal with repairs and maintenance, or being business owners who are buying the car for a company, and tax benefits come into play.
Ironically, leasing a car can allow consumers to drive more high-end models than they would normally be able to afford, said the dealership, since leasing results in a lower monthly payment than that incurred by buying.
“[To] drive the new Q5, we can get your lease payment as low as $419 a month,” Jeremy Freeman, general manager at Audi Oklahoma City, said. “If you want to purchase that same vehicle outright, your monthly payments are going to be quite a bit higher.”
On the flip side, Bob Moore stated, if drivers log over 15,000 miles annually, travel with children or pets, or otherwise anticipate much wear and tear, then buying is better because of limitations imposed on leases.