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Car ownership is an expensive burden to bear.

Key Point

• Owning a car has taught me a valuable lesson about car ownership.
• Leasing saves drivers time and money. We also offer hassle-free options.
• I don’t really see the benefits of owning a car, so I’m leasing it.

My brother and I owned an old Ford F-150. It was cheap, and even if I hit a thick concrete pillar (once), I didn’t have to worry about huge repair bills – until one dreadful day, I just kept driving my old clunky car and the engine blew up. rice field. In the middle of traffic. It was a dignified demise of a vehicle that had been driven for nearly 20 years after its heyday. It also taught me some important lessons about owning a car.

After 4 years and a job, I can afford a better car. Nevertheless, I owe. Here’s why:

Leasing is a better fit for my long-term financial plans

I lease cars because I remember how hard it was to own an old car. It saves a lot of cash up front, but it costs more to own the vehicle longer than his traditional three-year lease. Now is a good time to lease. And as long as I stick to long-term financial planning, it will continue to get cheaper in the future.

Leases typically require lower monthly payments

Instead of paying the full amount, you only pay the depreciation of the vehicle (interest plus fees). As someone fresh out of college on limited funds, I appreciated this option.

Leasing gives you the option to purchase your own vehicle when the lease expires

A lot can change in the 3+ years since we started our 3 year lease. Gasoline prices skyrocket, and used and new car prices wobble more than a bowl of Jell-O. Leasing gives you the freedom to return or buy your car at the end of the contract without worrying about the hassle of selling your car in an unfavorable market.

Lease has an expiration date

This is pretty important as there is a strong desire to switch to an electric car as soon as possible in order to save money on gas, clean the environment and join in the cool of owning a car that is quieter than the dastardly Batmobile .

Save time with leasing

Leasing a Toyota 2022 Corolla Hybrid started with fun online customization options and ended with fast delivery to your share house. No haggling, no upselling, no trips to and from the dealer. Maintenance costs are covered under warranty and are easy to schedule. Knowing that Toyota ultimately owns the vehicle, you can be confident that Toyota will do their best to keep it in top condition.

Leasing saves on repair and maintenance costs

Many leases come with a warranty that covers most of the lease term. My lease covers his two-thirds of my lease and comes with quarterly oil changes and tire rotations. I will be responsible for repairing any damage. Maintaining a brand new car is a lot cheaper than patching an old Ford F-150 that averages over $100 a month in repairs.

Save money on gas by leasing

There is an argument that cars of any generation are generally more energy efficient than their predecessors. The recent proliferation of hybrid and electric vehicles is a stark proof of that. My current ride offers about 600 miles for $50 at the gas station and the old Ford was the same price he was less than a quarter. That said, care should be taken not to exceed the maximum annual mileage.

Need to lease a car?

It depends on your situation. If you can afford the down payment and expect to be able to cover your monthly expenses, go for it. Please consider

• Ask yourself if it’s a lease. buy a car Worth it. There are inexpensive rideshare options for those who don’t travel long distances.
• Do you plan to keep the car longer than the traditional three-year lease term? If so, you may want to consider purchasing a car.
• Consider if car leasing is right for you Long-term financial plan. If you anticipate needing a large amount of cash to buy a home, leasing or taking out a loan may be preferable to paying the full list price of the vehicle.

Compare your needs with what is on the table. If you decide to lease a car, look for low rates and deep discounts, such as discounts for students with good grades. And when calculating costs, don’t forget to check for similar discounts on auto insurance.

There’s nothing special about owning a car, so we lease it. I don’t want the hassle of maintaining an aging car, and I’m not interested in repainting my car hot pink or jacking up the tires like a Rolls-Royce. . Leasing a car fits well with my long-term financial goals, and combined with the sweet discounts offered by the best auto insurance companies, saves me more time and money than if I had owned it instead. can.