The sheer mention of luxury cars conjures the thoughts of large saloons, exhibiting effortless performance, a cosseting environment, and unmatched levels of sophistication. Riding one helps create an imperious style statement, building an on-road presence that will make heads turn in appreciation. Whether your eye for an executive sedan, love the speed & performance of a supercar, or chase the off-the-road capabilities of an SUV, luxury cars offer the most exhilarating experiences.
But whether it is the latest Aston Martin DBX, the Lamborghini Urus, or the Bentley Bentayga, the key element of these exotic cars is the glamour attached to them, rarity, and associated high prices. Even long-term auto loans come with hefty down payments and EMIs. Fortunately, luxury car leasing gets you behind the wheels of these prestige vehicles but without breaking the bank.
Luxury Within Your Budget
Prestige car lease makes these one-of-a-kinds, high-end vehicles more attainable and affordable. This is simply because you do not need to bear the entire cost of the vehicle from the start to the point when you sell it off. Instead, you pay only for the period of your lease agreement. It’s that simple.
Most car leasing companies will require you to pay an initial deposit and then monthly payments till the lease period ends. The concept works similar to getting an auto loan; the only difference being the cost is substantially lower than what you’d pay as a down payment or EMI on your loan. So, the lease package is fuss-free and typically inclusive of other costs associated with buying a luxury car.
Forget About Taxes and Depreciation Costs
When you buy a car, it will depreciate over time. Hence, the resale value will be much lesser than the price at which you bought it. This is considered a cost to the owner. Additionally, you’ll require to pay hefty taxes every year which is substantially higher for luxury cars. And not to forget the registration cost, VAT, and delivery charges that come attached with the cost of buying a new car.
Fortunately, with luxury car leasing, the cost is typically inclusive of taxes and depreciation. Furthermore, you do not require to pay for the registration cost and other expenses related to purchasing a car. Hence, the overall cost of leasing comes down remarkably.
Lower Monthly Payments
Depending on the type of luxury car you lease, the monthly payments can be substantially lower than an auto loan taken on the same vehicle. This is because lease prices are almost less than half the price of buying a new premium car. Additionally, you can have a lower down payment than what you’d pay to purchase a car.
For instance, taking a Porsche for lease will cost you significantly lesser than buying a new model that may cost around ££80,000 plus and probably a lot more, based on the vehicle you choose.
Maintenance and Warranty Coverage
Unless you go over the lease contract’s mileage limit or take it for a longer period, you will likely be covered by the manufacturer’s warranty if you lease a new car. Hence, you do not need to worry about paying significantly for warranty-related repairs as the leasing company will take care of the cost.
Some luxury car leasing companies also include periodic maintenance in the lease price. So, you can be assured of complete peace of mind while having a predictable and stable cost of ownership.
In most cases, the lease price would also include insurance costs. That means the leasing price comes as a package, including repairs & maintenance, taxes, insurance, etc. Despite this all-inclusive leasing price, the cost is relatively lower than owning a prestige car. And if your credit card or personal auto insurance covers a prestige car lease, then you can use it to save more money on buying new insurance.
Avoid Sales Tax
Sales tax policies may vary from one location to another; however, leasing a premium car could help you avoid a lot of money in sales tax. Since you simply return the car at the end of the lease period, no sales happen. Hence, there are no sales taxes involved in the process. But in some jurisdictions, you may need to pay sales tax on the down payment amount and the monthly leasing cost. Otherwise, you might avoid sales tax completely by leasing a prestige car. Check with your location.
Whether you consider supercar leases or take an SUV on lease there will be a certain mileage allowance beyond which can cost you additional fees. However, if you remain significantly under this limit, you may have equity in the car and pave the way for a possible purchase. Yes; many good car leasing companies will allow you to buy the car at the end of the lease period, and that too at a substantially lower price than buying a car.
Considering the benefits and cost-effectiveness of luxury car leasing over buying a new one, it is time to switch to “affordable luxury” for memorable driving experiences.