5 Reasons Why Savvy Seniors Lease Luxury Cars
What if you could drive a brand-new Mercedes, BMW, Cadillac or Lexus for around the same monthly cost as a KIA or Chevy? That’s just one of the reasons why savvy seniors take advantage of leasing over buying.
But if you need more reasons to lease your next car, below are our top five:
1. Leasing Makes Financial Sense
Monthly lease payments are, on average, lower than car loan payments – in some cases – half the price! For people living on a fixed income in retirement, lower monthly payments make sound financial sense.
2. Leasing Means You’re Sure to Have the Latest Safety Features
We’re talking about the latest in safety features, such as parking assist, lane departure warnings, rearview cameras, and global positioning systems.
Plus, new vehicles come with more airbags, crumple zones and better overall safety ratings than older models. Therefore, people who lease get a very safe vehicle for less than it would cost to buy a brand-new car.
3. Leasing Means No More Repair Bills
In addition to lower monthly payments, and the latest safety features, not having to worry about automotive repair bills can be a substantial financial and emotional relief for people in retirement. One of the most significant problems with owning a car is a large and unexpected repair bill, especially if you are on a fixed income and carefully managing a monthly budget.
4. Leasing Gives You Great Tax Benefits
If you are easing into retirement and continuing to work part-time and lease a car for that work, you can deduct a portion of your monthly lease payment, as well as the vehicle’s depreciation, on your income taxes. This tax deduction is not available to people who finance a car purchase or buy a car outright.
5. Leasing is a Hassle-Free Option for Seniors and Retirees!
Leasing gives you the ability to walk away. Having a car dealership take a car you’ve been leasing off your hands may be the perfect hassle-free option for retirees!
The Bottom Line for Finding Great Lease Deals Starts Here
What if you could drive off the car lot in a $50,000 Luxury Car or SUV and be able to cut your monthly payment potentially in half?
For retirees on a fixed income who are getting older, leasing a vehicle rather than buying may be the way to go.
However, before heading out to the dealership, be sure to do your homework. By doing the proper research, you’re bound to find the perfect luxury vehicle you’ll be proud to be seen in, and at a price, you can afford!
