If you want to acquire a new car without making a large outlay of resources all at once, you could consider acquiring it through auto leasing service. Both companies and individuals can take advantage of this model, which, among its advantages, does not require a down payment and can be tax deductible.
Also known as pure leasing, this is a type of contract that allows financing an asset through installments for a certain period of time, so that when the agreement comes to an end, there is the possibility of extending it, buying the asset or even returning it.
In the process of signing the contract, the amount of money to be paid is established according to different elements such as the model of the vehicle, the equipment it has or the mileage it will be able to cover during the rental period.
This model is most commonly used by companies or SMEs, but nowadays anyone can take advantage of it, since in the event that the lessee seeks to acquire the car, its price is calculated from the difference between the cost paid during the contract and the actual cost of the vehicle without including interest or other rental charges.
Among the benefits of acquiring a car through this method is the fact that the borrowing capacity is not so affected, thus, a good part of the profits do not go to pay the monthly payments of a new car.
One of the most important advantages to consider this option is that many of the brands that offer this service is that you do not have to pay a large amount of money for the down payment. Several brands do not even consider this amount, in addition to the fact that down payments are reduced and the interest rate is maintained for the entire term.
Another advantage is that, both for companies and individuals who opt for leasing, are the tax benefits it offers, although it is especially recommended for individuals with business activity and for legal entities, rather than for salaried employees, due to the tax advantages that the law offers them. If you prefer to change your car every two or three years regardless of whether or not you own it, this scheme can also be beneficial for you.
In a lease, although there is no initial disbursement, you make a payment for a certain number of months and at the end of the period you can buy the vehicle or return the unit and acquire a new one.
Before resorting to an auto leasing service, keep the following tips in mind:
Consider the terms. If you are one of those who like to change your car in a period of 2 to 3 years, leasing is ideal. For longer periods, analyze the amounts you will pay.
When resorting to an auto leasing service, estimate the amounts. Make an estimate of the amount of the down payment if you want to buy it, or the monthly payment you could pay. Don’t forget the payment of the vehicle’s supplies.
Depreciation. If you plan to buy at the end of the lease period, consider depreciation based on the vehicle’s mileage and maintenance.
If you decide to buy. Do the math. If you want to buy the car at the end of the lease period, consider that it may be more expensive than buying one from the beginning.