With Supply Chain and Other Issues, Should You Lease a Car?

In many respects, getting a car now is harder than ever thanks to the serious supply chain issues that are ubiquitous today.

Considering the rising price of cars, should you lease a car in 2022? The answer depends on your needs and financial situation. If you need a certain car with specific features, you’ll have to wait months before you can purchase it. But if you want a new one now, leasing may be a better option. It gives you the option to switch to another model with the same features later. But keep in mind that a leased car will typically have fewer features than a new car.

When determining whether a lease is better than buying a new car, consider your usage. If you often switch between cars, a lease may be better. If you intend to keep the same car for a long period of time, you may be better off buying a car instead. In a lease, you must pay full insurance coverage, which can be expensive. But since you can negotiate the monthly payment, this expense could be lowered.

If you plan to lease your car, check your mileage limit. Many lease companies have strict mileage limits, so it’s best to consider this factor before deciding. You also should keep in mind the additional wear-and-tear charges. Buying a car requires a bit of extra work, but it gives you total control over the vehicle. If you ever need to sell it, you can sell it at any time, which is a plus for some people.

In the end, the answer is the same today as it has always been — it depends! It depends on what you want, what you need, your concerns about repairs, etc.  In many respects, leasing a car now makes more sense than ever.

All opinions expressed on USDR are those of the author and not necessarily those of US Daily Review.