Why You Should Lease A Cargo Van
Making the decision to buy or lease a Cargo Van can be one of the two most important buying decisions in someone's life. It isn’t something we learn about in school, and because of how quickly the market changes and evolves it can be difficult for our parents to give us insights or truths that only makes sense in their economies. Though the process can take a lot of thought and examination (because it’s such an important part of your life), we’d like to talk about the different advantages and disadvantages of buying and leasing. For the past several years, leasing has been the go-to option for drivers in the know, but that is largely dependent on where a drive is in their life.
Look at Your Monthly Payments
If you're Warren Buffet or Donald Trump, then you aren’t going to be worried about your monthly payment. But if you’re like most people, you don’t have thirty thousand dollars sitting in your bank account just asking to be spent. That’s why most of us take loans out to get a cargo van. However, that means that you don’t just have to pay for the value of the cargo van, but struggle to pay down the interest on the money you were loaned, while the cost of the cargo van depreciates on a daily basis (unless you’re driving a classic, in which case I want to be you.)
When you lease, you pay for the car’s depreciation throughout the years you drive it. This makes the monthly payments lower, which consequently means that you could choose a higher-end model and pay a lower monthly payment.
The Flip Side
Writing this we really want to give a fair and balanced perspective. With that being said, when you pay less for monthly payments, you can end up getting caught in the loop of leasing. Which means if you’re looking to lease for a long period of time, it may cost you. Buying the Cargo Van means you get to keep it longer and eventually won’t have to make monthly payments at all. If you plan on leasing another Cargo Van, the cost of leasing won’t be the same as it was for your first leased car. There's a chance it may be more expensive if you are aiming to lease a nicer Cargo Van .You also don’t have the benefit of trade in value, even if the Cargo Van has depreciated.
Transitioning From Cargo Van To Cargo Van
At each dealership, there are many options to choose from. Each car with different styles, prices, and interior features. You can explore different Cargo Van faster if you lease for the minimum amount of time. For example, you might lose interest in your 2019 model, and may want to get into a 2021.
When leasing a Cargo Van, you are only limited to the mileage that the dealer offers you for the lease. You may get the lease for 3 years that only allows you to drive the Cargo Van for a total of 30,000 miles, for example. When you buy a Cargo Van you can drive for as long as you’d like. On top of that, you don’t have to pay for miles you drive over the lease mileage limit. Each mile over is about 25 cents so think about what you can do to limit your mileage usage. At the same time, when you aren’t leasing, each mile ends up costing you in the depreciation of your Cargo Van; which will hurt when it comes time to resell.
More Responsibility With Maintenance
Most of the time, lease agreements will require you to check up on any maintenance or repairs you may have due to wear and tear. When you return your Cargo Van at the end of a lease, any damages done to the Cargo Van will cost you. Thinking about this ahead of time will make you more aware of how often you should take care of your Cargo Van. In some cases, maintenance may not be the biggest issue so really you have nothing to worry about. Most issues are covered by a warranty. As far as minor maintenance like cleaning goes, the general rule of thumb is that you should wash your Cargo Van every two weeks. Creating a schedule for cleaning can help maintain your leased Cargo Van. At the same time you are driving newer Cargo Van than you would if you purchase a used Cargo Van, or your current Cargo Van is aging. That means that you won't wander into any major issues when it comes to engine breakdowns, which can really add up to a substantial chunk of change in the life of a Cargo Van.
Limited Add Ons And/Or Customizations
When you lease a Cargo Van, you should think of it as a long term rental. Leasing a Cargo Van means that you are not able to repaint it, add bumper stickers, advanced technology, or add any other accessories to the exterior. Because you don’t have to give it back, you are free to do whatever you want with it. When you’re leasing you have more freedom to choose the exact model that you like, so choose all the bells and whistles that you want, and if you’re considering adding a desired feature, remember that you aren’t stuck in your lease for long, and can always get that upgrade down the line.
The Right Cargo Van For You
This decision can take a little bit of time. Whether you are or aren’t ready to lease a Cargo Van, our dealership can assist you in reaching your goals of finding the right Cargo Van.