Getting a car on lease is becoming popular these days since it has many benefits and is much more convenient than financing a car. The final decision of leasing a car depends on several factors that also differ for everyone. Read on to know more about some of the common benefits of a car lease to help you understand the process better:

• Low maintenance costs: Manufacturers’ warranty is a common phenomenon that comes along when you lease a car, and it includes major repair costs of the vehicle for the first few years. This helps you save big bucks on the maintenance of the car and can be considered one of the biggest benefits of a car lease. In addition, some manufacturers also extend free of cost maintenance for a specific period.
• Low monthly installments: One of the most important benefits of a car lease is lower monthly payments. The installments are usually compared to what you would have to pay if you take a car loan for financing a car. The lower payments can help you get a car of your choice or one that you may not be able to afford otherwise.
• Enjoy driving the latest cars: New and improved car models are launched in the market every year. The flexibility that leasing a car offers is hard to replicate if you finance a car, as leasing allows you to rent and drive new models every time your lease ends.
• No hassles of selling a car: Selling a used car is a tough job and a tedious one at that. Fortunately, you can skip these tedious steps if you decide to lease a car. After the leasing tenure ends, all you need to do is renew the lease or hand over the car keys to the leasing company and choose a new car.
• Tax benefits: Most tax rules include taxation of only the portion of the lease that you’re using and not the entire value of the car. Other than that, if you wish to use the car for business purposes, you can write off the amount of lease in the tax deductions.
• A wide range of choices: Considerations while buying a car are usually different from the factors to consider while leasing one. The benefits of a car lease include the option of choosing among a lot of options, which works well for many.
• GAP insurance coverage included: Auto insurance policies generally include gap insurance for leased cars too. This can help cover the costs if the car is stolen or totaled while it is in the lease duration.

The benefits of a car lease can work differently for different people. These benefits enable you to make an informed decision and seek what is best for them personally as well as financially. Driving the latest cars with minimum financial strain is possible if you pick wisely.