LOW MONTHLY PAYMENTS
A leased vehicle payment is usually 30 - 60% lower than a purchased vehicle. This means that you can drive a car that you may not normally be able to afford, and this may be the biggest advantage!
LOW MAINTENANCE AND NO REPAIR COSTS
When you lease for 36 months or less, the vehicle is typically covered by the manufacturer's bumper to bumper warranty during the entirety of the lease. You won't have to worry about major repair costs and in some cases the manufacturer may even offer free maintenance for the first few years.
NO HASSLE WITH SELLING A USED CAR
When the lease is over, you just return the vehicle. You don't have to manage the hassle of trying to sell a used car or trying to make your money back with the lower value. There are cases where a leasing company overestimates the value of the lease car, which an result in a lower lease payment for you and a loss for the company.
Do you use your car for business? If so, you may be able to write off the entire lease payment as a deduction. Even if you don't own a business but are using it for work related purposes, some states only tax you on the "usage" portion of your lease so you wouldn't need to pay taxes on the full price of the vehicle. This can save you hundreds versus paying the full amount on a purchased vehicle.
ENJOY THE LATEST FEATURES
Do you like being at the front of the line for the latest technology? A lease allows you to drive a brand new car every few years, which will ensure you always have the latest technological advances and safety features in your vehicle.
LARGER SELECTION OF VEHICLES
When you buy a car you are making a commitment to driving it for many years. With a lease car, you don't have to worry as much about reliability because you will only have it for two to three years. Most vehicles won't experience any issues during this time, which give you the flexibility to select a car you wouldn't purchase.
LESS UPFRONT COSTS
Many leases can be made with little to no money down, however there are some fees which can usually be rolled into the monthly payment. When purchasing a vehicle, if you want a decent loan rate a larger down payment is needed.
When looking into leasing, you'll find that most leases include GAP coverage for free! This will protect you in case the car is stolen or totaled during the life of your lease.
ACCIDENT? NOT YOUR PROBLEM
When you buy a car and get in an accident, your insurance pays for the damage. Downside is that when you sell your call you'll find people don't want to pay the same price since the vehicle has been in an accident. When you lease, if you wreck the car the insurance company will sill cover it but the reduced value is not your problem, it's the leasing company's.