10 Reasons It Makes Sense to Consider Chevy Lease Deals

“Should we buy a new car, get a pre-owned car, or look into a car lease?”

That’s the question families around New England ask themselves when it’s time to add another vehicle to their personal line-up. The answer, of course, depends upon what they want, what their financial circumstances are, and a host of other considerations.

Been interested in learning more about Chevy lease deals offered in Albany, NY, at our facility, but not certain if leasing is right for you? Take a few minutes to review common reasons other DePaula Chevrolet buyers have moved into a lease situation. That way, you can determine for yourself if a lease makes sense for your needs.

They like the idea of paying only on the vehicle’s natural depreciation value.

When you lease a vehicle, the money you spend each month offsets the expected depreciation based on the vehicle’s value. Thus, you’re basically paying less per month for the term of the lease than you might if you were to borrow the full value of the vehicle outright. When the lease is up at the end of, say, three years, you have only paid for depreciation and not the full value of what the vehicle was worth when you started the lease.

They do not have a lot of money to put down.

Let’s say that you have a little bit of money to put down on a new vehicle. Unfortunately, when you spend that money it will be out of your hands. In this case, it could be wiser to keep your liquid funds–allowing you to retrieve them when you have bills to pay, or in emergencies–and simply opt for a lease. The lease will require a lower amount of money down than if you were purchasing a Chevy car, truck, etc. Although you won’t move toward owning the title to the vehicle, you’ll still get the benefit of being able to drive it.

They have a low-value trade-in.

Perhaps you originally wanted to trade-in your current ride, but upon doing research, you discovered that the trade-in value was paltry (at best) due to the condition and age of the vehicle. Instead of having to put a great down payment on a new car, you may qualify for a lease instead. You’ll still trade-in your old vehicle (if you want), but you won’t have to put as much down in cash. Additionally, you can expect a smaller payment per month than if you had a large loan.

They like to keep up with the latest models.

Does the idea of having a new vehicle every couple of years excite you? Do you feel that it puts you in better standing to “keep up” in your profession? Leasing can be a suitable and financially sound way to ensure you always have up-to-date vehicles. Many professionals like to be able to operate the latest, best cars and SUVs. Yet they would rather not purchase one and then have to purchase another a few years later. Leasing gives you more options for faster turnover without trade-in issues.

They want to be able to predict how much a vehicle will cost.

In general, you’ll find that most leases are in the three-year range. This puts them under manufacturers’ warranties, meaning you won’t have to pay out-of-pocket for major bumps, thumps, or breakdowns. Yes, you’ll still have to maintain your investment (it’s going to be a condition of your lease arrangement, anyway.) But you won’t have to worry about financing anything too big or costly. Therefore, you can literally map out a financial strategy when it comes to setting aside predictable funds for your vehicle costs each month, quarter, and year. Talk about making it much easier if you already have a busy life and want to take away the unknowns associated with owning a car that’s past its warranty.

They like vehicles with gadgetry and high-tech features.

Stop into DePaula Chevrolet and take a test drive in a new Chevy. You’ll be absolutely amazed at how the technology has changed in only the past few years! Even if each year’s model doesn’t change radically, it usually includes some kind of a high-tech upgrade. If you’re at all tech-savvy and can’t get enough of the leading edge gadgetry, you’ll like having a leased vehicle. Why wait until you can afford to buy a car with infotainment galore when you can have it all right now?

They don’t care about driving their vehicles “into the ground.”

For some owners, it’s a right of passage to buy a favorite model of Chevy and literally run it until the odometer passes 200,000… and continues until the engine wears out. Still, not everyone falls into this mold. Many people, especially those who are busy or just like to have a smooth, dependable ride, find leases to be a better fit for their lifestyles. They’d rather just rely on their wheels, but not talk about how many miles they got for their initial investment.

They won’t drive their car more miles than allotted by the lease agreement.

Think that you already know how many miles you’re likely to drive your new vehicle in a year? Feel pretty solid about the answer? If it’s fewer than the amount listed in our Chevy lease deals, you should read on. Although leasing can incur extra fees if you drive more miles than allotted in the agreement, it isn’t a definite. Plenty of owners of leased cars drive a modest number of miles yearly. They’ll never run the risk–or even come close to doing so–of exceeding the agreed-upon mileage.

They don’t want the hassle of trading in a vehicle.

When a lease is up, it’s up. No questions asked. That’s a relief for some drivers who just want to get their new leased ride and go. No trade-ins. No worries. Plus, they don’t have to hunt around for a missing title!

They can get tax benefits if the leased vehicle is for business.

In some business situations, entrepreneurs and founders can enjoy tax benefits if they lease a vehicle rather than using their personal one for company purposes. It’s best to speak with your trusted accountant about this possibility, as leasing can have hidden advantages you might not have realized. If nothing else, you owe it to yourself to understand how leasing your next ride could affect your taxes.

Interested in learning more? Talk to DePaula Chevrolet about our Chevy lease deals right here in beautiful Albany, NY!