Black Friday is that time of the year were individuals tends to get a lot of discount on different goods and services, it’s always a crowd studded event in the mall almost all over the world, car dealers are not left behind in Friday deals, they also participate in black Friday by lowering the cost of vehicles both for purchase and for leasing. A lot of customers knowing this, hence some have the patience to wait until that time of the year (blackfriday) to rent their favorite car over a long period. Black Friday ads for leasing a car are out in full force. Besides the looking advantage of leasing a car on Black Friday, one ought to check if there’s also cons attached to it, below are the pros and cons of leasing a car in black Friday period.
Leasing Pros:
- No hassles at the end of the lease contract
- If the car is meant for business, the lease payments may qualify for a tax write-off
- Generally allows lower monthly payments with a lower down payment
- one can drive a higher-priced new vehicle for less money
- it has Lower repair costs because you are covered under the vehicle’s factory warranty (many lease company warranty last three years, this is to coincide with a new car’s bumper to bumper warranty)
Leasing Cons:
- Additional fee to early termination of a lease is costly
- one can never have equity in the car
- it comes with continuous monthly lease payments that require a predictable cash flow
- Mileage is limited to 12,000 miles per year; excess mileage attracts a fee
- It has excessive wear and tears charges if the leased car isn’t properly maintained. This could be a nasty surprise at the end of the lease if one didn’t go through the terms and conditions properly before leasing.
- Lease contracts can be confusing and filled with unfamiliar terminology different from normal term condition
So if you love driving a new car with all the latest technology every three years, leasing may be your best option during black Fridays. However, if you’re someone who tends to stick with the same car for years, buying a new or used car on black Friday may be the way to go. It all ends up on personal preferences and personal pocket balance. Car lease on black Friday is growing widely and a lot of folks are embracing changing their vehicles during black Friday periods, car lease companies are always geared up when black Friday is approaching.
