Leasing is not a familiar process for every U.S. driver. If you are one of the many people who do not know if it is better to lease or buy a car, you might be missing out on some serious benefits. Should I lease a car instead of buying one? What are the pros and cons of leasing a car in 2021? Financial, peace of mind, personal image and convenience-based benefits are all applicable pros pursuant to most lease agreements today.

How does leasing a car affect your personal image? Choosing to lease a car commonly means also choosing to drive a newer model. This is a preference for many drivers, especially those interested in maintaining a certain image. Are you a realtor who makes appearances in front of dozens of clients every week?

Do you use your car for other work purposes where it is important to impress customers (such as sales, legal practices, entertainment-related jobs, etc.)? Perhaps you simply enjoy the self-confidence driving a newer, impressive looking vehicle for social or other personal reasons. Two image-based pros of leasing a car are its potential to keep you in-sync with current auto trends and the ability to make positive impressions.

Leasing a car is convenient. It is possible to lease new cars every few years or less with a minimal amount of hassle and red tape. Trade-ins on lease agreements are fast and simple provided the car is not damaged. Do you like to change things up in your life? Leasing a vehicle also makes it convenient, and more affordable, to drive newer makes/models all the time.

When comparing the pros to lease or buy a car, peace of mind is one of the top considerations for many drivers. Your car lease agreement includes a warranty, which most likely lasts through the entire period of your lease term. While routine maintenance might not be covered, the majority of major and breakdown-related issues are. Newer cars also have the most modern and advanced safety features, which is another aspect of car leases offering peace of mind to U.S. drivers in 2021.

Is it better to lease or buy a car for financial reasons? Monthly lease installment payments are often lower than those required for traditional auto loans.

If you are looking to spend less money each month but still drive a newer model car, leasing is a great option for you. Down payments also still apply to leases, which means you might be able to lower your monthly payments even further when you pay a higher down payment at signing time. Leased vehicles driven for official company business might also have tax-break (tax write-off) eligibility, conditions applying.