Facts About Leasing that Millennials Should Know
When it comes time to purchase a vehicle of your very own, you have a number of different financial options. One option that is becoming increasingly popular with millennial drivers is leasing. More young drivers are leasing their vehicles than ever before. However, it is important to understand all of the details about leasing before choosing this option. Here are a few facts about leasing that millennials should know.
Leasing Payments Should Only Take Up a Percentage of Your Net Pay
More often than not, leasing can make newer vehicles more affordable for drivers. However, it is important to keep in mind that the payments of your lease should not make up more than 20 percent of your monthly net pay.
Leasing Involves Mileage Limitations
If you have to travel a good deal, then leasing might not be the best option for you. Many leases involve caps on how many miles you can drive your vehicle, and if you drive more miles than what is listed, it can result in additional fees.
You Can Negotiate the Price of Your Lease
Just like with purchasing a new vehicle, you can negotiate the price of leasing a new vehicle. In that way, you can end up with lower monthly payments!
Find out if leasing a vehicle is the best option for you at Orange County BMW. We will help you decide whether you should buy or lease based on your lifestyle. Let us help you today!