Numerous articles have been written about the lease vs. buy question, including this particularly informative one from Edmunds.com. But let’s fast-forward a bit and assume you’ve decided to lease your next Land Rover vehicle – maybe a Land Rover Range Rover or Land Rover Evoque near Andover, MA. What are the key points you should be aware of?
First off, just like with anything leasable (an apartment, office equipment, etc.), an automobile lease has finite terms. Most car leases are for no more than three years, with a set amount due for down payment and a specific amount due each month. Another “finite number” to consider are the number of miles you can drive a leased vehicle. When you own a car, you can drive it as many miles as you want – but with a leased car, a yearly mileage cap is instituted, usually 10,000 miles/year. If the total number of miles driven during a three-year lease exceeds 30,000 miles, you’re charged for the extra miles.
Two big reasons why car buyers prefer to lease are 1) the ability to drive a new car every few years, and 2) no hassles when the lease expires. To this last point, at the end of your lease you’ll typically have three options: extend the lease, purchase the vehicle, or turn in the keys and walk away. Be aware that in the third scenario, you may need to pay for any excessive wear and tear to the vehicle.
Land Rover Peabody offers plenty of great lease opportunities. If you like the idea of driving different cars, having lower monthly payments, enjoying lower maintenance costs, and paying less sales tax, navigate to “Land Rover dealership near me” and let’s talk further today!