Leasing SUVs

Lease an SUV may have lower monthly payments than if you were purchasing the SUV outright. If you feel like you get bored with your vehicle more often than not, leasing an SUV is the best way to drive something different every year if you choose to. Typically, you need to just do maintenance in the first three years of owning a car, which means you should not have to deal with major car failures. This may end up with a lower monthly payment, but you will constantly have a monthly payment. Additionally, you will need to have a down payment for your lease every few years.

If you are planning on leasing your SUV continually, you will need to plan to cover the down payment every three years, which means you will need to be very financially aware of the additional costs.
If you can’t pay with cash right now, be aware, consult family members, friends, and don’t take out car payments you can’t afford in the future. Think about your job, are you going to be unemployed in the near future, are you taking any trips that will cut into your bank account? Generally, you need to be able to pay off the car within three years. Your total monthly debt should be less than twenty five percent of your current income, as a rule. If you stick within these guidelines you will be in a much better situation financially. If you do not qualify for a car loan, you may have to buy with cash, which can limit your purchasing power. You must meet the same credit qualifications if you lease or buy. Talk with your bank and maybe even consider someone willing to cosign the agreement.