7 Benefits Of Leasing a Vehicle You’ve Probably Not Thought About

The vehicle market can take a bit of navigating, especially if you are in the market for a moderately priced vehicle. If you are in the market for any sort of four(4) wheel, three(3) wheel or two(2) wheel passenger vehicle, there are two(2) popular options available to you.

You could decide to buy a new vehicle outrightly, acquire a loan to buy, pay on instalments, or you could decide to lease.

To avoid buyer’s remorse, you want to make the most educated decision possible, one that is right for you. Buying a vehicle can be the best feeling in the world, and If you have the financial capabilities to buy, then by all means you should buy.

However, in a situation where you need a payment plan or a loan to finance the vehicle purchase, you may want to consider leasing the vehicle instead.

Leasing may be the most financially agreeable option for you. Leasing a vehicle would allow you access to the vehicle much sooner than if you were to buy the vehicle.

If you are looking to lease a Motorcycle or Keke, MAX can help you with the process in its entirety.

Let’s take a look at some of the benefits of leasing a car, motorcycle, or Keke.

Benefits of Leasing

Stress-Free Initial Paperwork & Financing

Depending on whether you are financing your vehicle with a loan or making a full payment, there can be a lot of paperwork involved. You would also need a hefty initial deposit if you are going to buy a vehicle.

On the other hand, leasing attracts minimal upfront payment. At MAX, for example, the documentation process for leasing a Motorcycle or Keke can be completed within a short period of time.

Low Monthly Payments

With vehicle leasing, your payments for your chosen vehicle are spread over a period of time. This way you can make small weekly-to-monthly payments on your vehicle. You can discuss with your vehicle leasing company what type of plan works best for you.

Low Maintenance Costs

Another benefit of leasing a vehicle is the low maintenance costs. Most vehicle leasing companies assist owners in this area. What this entails is that your vehicle maintenance is covered to whatever extent you agree initially with your lease provider.

Insurance Benefits

You can also get insurance benefits from leasing your vehicle. If an accident occurs involving your vehicle, insurance usually covers it. This is why getting insurance coverage is important, insurance for a vehicle you own can be expensive,

On the other hand, if your vehicle is leased, insurance is covered in part by your lease provider. Some providers even offer added insurance benefits to leaseholders. For instance, at MAX, motorcycle or Keke riders (champions) have access to health insurance for themselves and their families.

More Vehicle Options

Leasing a vehicle opens you up to more vehicle options. You may be limited as to the type of vehicle model you could afford if you were looking to buy. With leasing, you can pick from a wider array of vehicles. For example, you could switch from a vehicle with a regular internal combustion engine to an electrically powered vehicle.

You do not have to worry about the present value of the vehicle since you would only be making small payments on an agreed-upon basis.

Use The Latest Models

Leasing a vehicle also gives you the chance to use the latest vehicles available. You can make use of the latest technologies and you would not have to worry about the overall value of the vehicle. Trade-in options apply here; allowing you access to newer models for just a little upgrade. This is however dependent on your lease agreement.

Longer Manufacturer Relationship

Most vehicle leasing providers have long standing relationships with vehicle manufacturers. In a scenario where your vehicle needs a certain spare part, getting it straight from the vehicle manufacturer is your best bet. They are also better equipped to assist you with repairs.

You can be sure of the best offers if you can take advantage of a lease provider-manufacturer relationship.

Reports have shown that businesses are one of the main segments interested in vehicle leasing which makes sense. Businesses who are looking to control cash flow can gauge a vehicle’s long term value and decide that small payments over a defined period are more practical for the business. MAX helps individuals and businesses procure vehicle leases in Lagos, Ibadan, Akure and Osun. Speak to us today and let’s find a lease model that suits your needs.

MAX is a mobility company that uses technology to make moto-taxis safe, affordable and accessible to underserved communities in Africa.