The Numerous Benefits Of Leasing A New Car

In the past, leasing a new car was only available to corporate clients, today it is an effective way to have a new car that is open to all sectors of society, no longer is the typical consumer faced with either paying cash or arranging finance. As the average prices of new cars keep climbing, more and more people are turning to Volvo leases in Schaumburg, nearly one-third of all new car sales are leased.

Leasing a new car allows a potential buyer the chance to actually have more car than would be possible if it was to be purchased.

The benefits of leasing a new car:

Leasing a new car and financing the purchase of a new car is somewhat similar but there are differences. When you finance the purchase of a new car, the loan value is based on the vehicle cost minus the amount you were given for your trade-in minus the amount of down payment. Leasing is different inasmuch as the amount financed is the depreciation that occurs during the term of the lease; usually three years. Once you have satisfied the lien the car is yours, when you lease, after three years you own nothing; you simply turn the car back to the dealer.

For those that want a new car but have a minimal amount of the down payment, Volvo leases in Schaumburg is a good option. Unlike purchasing a new car where the larger the down payment, the better, with a lease you can expect to pay far less.

The term of most leases I the same as the warranty period. By leasing, you will always have a car that is under warranty, in the event something serious goes wrong, the cost of repair will be borne by the warranty.Of course, there is a drawback to leasing; the lease contract sets a strict limit on the number of miles you can drive during the term of the lease without incurring the penalty.

Volvo leases in Schaumburg are an ideal way to drive away a high-quality car with minimum investment. To discuss the details, you are invited to visit McGrath Volvo Cars Barrington.