Long Term versus Short Term Car Leasing
The option of leasing a vehicle has been around for a long time but more and more consumers are discovering all the benefits it has to offer. It’s an excellent option for those who enjoy driving the newest models with all the latest features or anyone who wants to try different types of vehicles to find the one they like best.
When you lease a vehicle, you’ll have many decisions to make in addition to choosing the Toyota you feel is right for you. One of them is deciding how long you want to lease the vehicle. Many people struggle with this one and it is a big decision. If you choose to end the lease agreement early, you’ll have to pay an early termination fee so you need to consider your options carefully before making a decision.
Long term versus short term car leasing, which one should you choose? The following information can help you make an informed decision.
Short Term Car Leasing
A short term car lease is one in which the rental agreement is under 24 months. In some cases, you may even be able to lease a Toyota for little as six months to a year but it’s not very common. Normally, you’ll be taking over someone else’s leases when you choose a short term lease for under a year.
There may be several reasons why someone would need to end their lease early and so they look for someone else to take it over. Of course, you can only take over someone else’s lease if the dealership approves the agreement. There are also a number of reasons why someone would prefer a short term lease to a longer one.
For example, if you’re waiting for the new Toyotas to become available before you lease long term, this is a great way to have a dependable ride while you wait without the long term commitment. Another reason a shorter lease would be a good option is if you’re staying in the area temporarily or you plan to move in the near future.
In both of these cases, a shorter lease would be more practical. If you’re interested in leasing a vehicle short term, talk to your local Toyota dealership in Miami to see what options they have available.
Long Term Car Leasing
A long term leasing agreement usually starts at 24 months and goes up to four or five years. More people choose long term leasing because it has many advantage. For example, longer leases offer lower monthly payments. Therefore, you’ll pay less each month for the same vehicle if you choose a five year lease instead of a two year one. The number of miles you’re allowed to drive will also increase based on the length of your lease.
The downside is that if you find yourself in a situation where you need to end the lease earlier than the agreement, then you’ll be required to pay the early termination fee. That is unless you can find someone to take it over that the dealership approves.
Consider your personal situation before you decide which lease option is right for you. Think long term and determine what your short and long term plans are. This will help you determine which leasing option is best for you.