“I don’t want to lease”
“I want to own my car”
“I would never lease a vehicle”
“I drive too many miles”
Sound like you? You are not alone. Many of our customers have expressed that same response when the topic of leasing comes up.
And, as a consumer I do not blame that first response. In the past, leasing was not a consumer friendly option.
So maybe you, too, have been burned by a lease in past years. Leasing was once really meant for fleet or corporate situations.
But now, you have the leasing power.
If you told me I had to obtain a car today, I would hands down lease.
Let me explain why.
First and foremost you own options.
Let’s be honest. Life is weird. Life is hard. Life throws you curve balls time and time again.
Leasing gives you the power to take a step back at the end, or close to the end of your lease term and evaluate your current needs for you/your family.
The power to declare of halftime!
Let’s say you lease a 2015 Kia Optima today. You lease this car with little or no money down, for 36 months, and you and your sales adviser determined that you drive 15,000 miles a year. So toward the end of your 3 year term, and getting close to your 45,000 miles…
You take a step back and think.
Self, I have three choices. I can return this 2015 Kia Optima and walk away. (Choice 1)
Self, I can get into a brand new 2018 Kia Optima with all those brand new features. (Choice 2)
Self, I love this car so very much I want to own this car. I am going to finance the car for the remaining residual (as per determined in the contract three years ago with my sales people) and my payments will probably stay around where they are right now. I don’t want to give my car up. Mine. (Choice 3)
Choices. The ability to have a little “half time” and evaluate your current needs. Maybe you are engaged, married, and are now thinking about having a family and need something larger in size to grow into. Maybe you want to downsize because the 2018 Kia Forte looks like the perfect sized vehicle for your new long commute.
If life gives us ONE constant, it’s the constant of change. So leasing gives you the power to evaluate those life changes.
Most importantly, this is not a decision that you need to go it alone on. Your sales adviser will ease you through this process and help you decide what is best for you/your family.
So now that I’ve covered how leasing gives you the ownership of choice, let me touch on those initial objections that are very common among our customers that were unfamiliar with leasing.
1.”I like to own my car”.
…..Okay there are always exceptions so unless you bought your vehicle outright and have the title…..the bank still owns your car.
Here is an extreme example.
Say you financed your vehicle four years ago on a 6 year term, and let’s say at a high rate.
You paid perfectly on that loan, your credit is in a much better place,
but you did not put any money down and you owe more than fair market value on your vehicle.
And you are trying to get out of it.
You might be flipped (negative equity) and you can’t afford to increase
your monthly payments or money down (trust me, join the club. I am in that club).
2. “I drive too many miles a year”
This is a huge misconception. But you are not entirely off the mark.
Leasing was once intended for low mileage clientele.
Your sales team will work with you diligently to make sure your lease is structured to fit your needs.
A solid sales team will never let you out the door with a 10,000 mile a year lease if you average 12,000, JUST so they can show you a lower monthly payment. No, they will structure the mileage to suit you.
In fact, in all reality the people that do more driving on average are perfect for a lease
because what happens to a car with above average miles as far as fair market value? Depreciation.
Who takes that hit in a properly structured lease? Not you. Nope. You’re on to the next vehicle high fiving your sales team.
Leasing? All leasing really means is just another way to finance a vehicle. It really just depends on how it works for you and your needs or you and your family’s needs.
Because that’s really all that matters.