Top 12 Reasons to Lease ...

Did you know that 93% of all Titus-Will lease customers are so satisfied with leasing that they become lease customers for life? Here’s why:

1. Lower payment. Because you are only paying for the portion of the vehicle that you will be using (usually around 50% of the retail price), your monthly payments are going to be significantly less than when you finance and make payments based on the full price of the vehicle.

2. You can afford more car for less money with a lease. Because your payments will be significantly less, you have the option to lease a more expensive vehicle than you would have considered if you were to finance. Or you can stick with the same vehicle and enjoy the lower payments!

3. Shorter term contract than a purchase. When people finance a vehicle, they usually get a five year loan. A typical Titus-Will lease is three years or less. And the rate is usually better than a financing rate.

4. Less maintenance costs. Since most leases are 36 months or less, your vehicle will still be under factory warranty when you turn it in. You'll only be responsible for basic maintenance and that means more money in your pocket!

5. Sales tax savings. With a Titus-Will lease, you’re only being taxed on the payment itself—and it’s a lower payment to begin with. With financing, you are paying tax on the total vehicle finance price.

6. High mileage drivers save money. When you trade in a vehicle, you are penalized 25-35 cents/mile by the appraiser for miles over a 15,000/year average. At the very least, there is an uncertainty about the value of your trade. However, when you lease, you are only charged 10-20 cents/mile—an amount pre-determined at the beginning of the lease.

7. No worrying about negative equity . At the end of your Titus-Will lease, you won’t owe money to your bank and, therefore, won’t have to roll that debt into your next vehicle. Leasing is great way to “dig out of your trades” because most people aren't just financing their current vehicle; they are still paying off their previous vehicle because they had negative equity in it.

8. Leases include GAP protection. GAP protection pays the difference between a settlement from an insurance company and the actual payoff on a vehicle that has been totaled or stolen. When you finance a vehicle, this is a premium you must pay extra for.

9. Helps your credit score. When you lease, you won’t have negative equity and therefore have a better debt to income ratio. If you’re trying to build credit, leasing is a great option.

10. No worrying about the value of your trade. When you lease a vehicle, the residual price (similar in meaning to trade-in value) is calculated up front and guaranteed by the bank. When you turn your car in, you owe nothing, unless there is abnormal wear and tear (body damage, etc.) or you exceed the mileage determined at the time of leasing.

11. Improve your cash flow by not tying up your money . With a lower payment and no need to save up for maintenance work, you will have more money in your pocket for more important things. There’s definitely value in having extra cash.

12. You’re not paying for equity in a depreciating asset. Leasing a car is not like renting a house. When we rent a house, we are leasing an asset that gains value over time. With a house, it makes better sense to finance so we have equity in it. A vehicle loses value over time, so a Titus-Will lease makes sense because you’re not paying for equity like you do when you finance. Would you buy a stock at $100 per share knowing that it would only be worth $50 per share in two or three years? Of course not. Yet that’s basically what we do when we finance a depreciating asset. When you lease, the equity is in the savings.

It all comes down to peace of mind. With so many more important things to worry about, leasing can make life a little easier.

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