The global microchip shortage is causing used car prices to soar, while many customers are paying a premium for new cars. Demand for vehicles continues to be high while inventory is significantly lower than normal due to the parts shortages.
At Cartelligent, we’re continuing to help our clients have a great experience and save time and money buying or leasing their new car. One question that we’re being asked is “Does leasing make more sense than buying when prices are higher than normal?”
Leasing can be a great option for many consumers and we’ve consistently helped over half our clients lease for many years. And it can make even more sense in the current climate because clients who lease pay only a portion of the total price of the car. (See 7 Reasons to consider leasing your new car.) This leads to a lower monthly payment and less total expense over the time the car is driven.
If you’re thinking about leasing for the first time, here are some things to consider.
How long do you typically keep your car, truck or SUV?
Leasing a a great option for clients who prefer to drive a newer car. Leasing allows you to take advantage of technological improvements, model upgrades, and always drive a car under factory warranty. For those who prefer to keep and hold a car for a number of years, financing may be a better option for you.
How many miles do you typically drive?
For many people, the annual mileage on most leases which is between 10,000 to 15,000 miles per year is within their comfort zone. Your Cartelligent advisor can help you look at your mileage to understand if leasing will work for you.
At Cartelligent, we’re car leasing experts. We can help you understand the pros and cons of leasing for you, make sure you understand how leasing works, and negotiate a great price on the car, truck or SUV you want.
If you’re thinking about buying or leasing a new car, our team is here to help you navigate the market and have an easy, enjoyable, and safe car buying experience.
Cartelligent is an online new car buying and leasing service serving customers all over California. Since 2000, we have helped our customers get a great sales price on the vehicle they want and provided the best possible buying and leasing experience. Our local advisers are ready to help you select the right car, SUV or truck for your needs.