When you're ready to buy a new car, you should consider all of your financing options carefully.

One of the main option decisions you will have is whether to buy your car outright or whether to lease it instead. There are many benefits to leasing a new car, including:

• The option of having a new car in your drive every year.
• You're less likely to have a large repair bill.
• You can keep up with the latest car technology.
• You can lower your monthly payment with a lease.
• You can take advantage of dealer incentives.
• Lease a New Car Every Year

When you lease a car, you are not obligated to keep the car at the end of your lease. You will be given the option of returning the car or buying it. By leasing a new car every year, you can keep a new or late-model vehicle in your drive, helping to alleviate some of the problems with car ownership.

Having a newer car allows you to worry less about having high repair costs that can come with car ownership. If your warranty has expired and a major part on your car breaks down, you would be responsible for the repair costs, whether you are leasing or buying the car.

As long as you lease another car before the manufacturer's warranty is expired, your repair costs would be covered under the lease.

Keep Your Payments Lower

When you lease a car, you are not paying for the entire vehicle, you are paying for its depreciation. By leasing a new car, you are making lower car payments than you would if you were purchasing the car outright. Essentially, you would be renting the car for however long you are leasing your car.

When you lease a car, you may not have as big of a down payment as you would if you were purchasing your new car. This will allow you to keep more of your money in the bank, rather than putting it down on your car.

Take Advantage of Incentives

Some car manufacturers may offer better incentives for leasing their cars. These incentives may include subvention. Subvention incentives are usually offered when the manufacturer wants to get their slower-moving cars off their lot.

Manufacturers want to move these units to make room for newer models, so you can take advantage of these deals and pay less than you would if you were purchasing the car outright.

You can also take advantage of tax incentives when you lease a car. If your car is primary used for business, you may be able to write off the payments on your taxes as a business expense. In addition, lease obligations don't end up on your credit report, so it can't influence your credit report negatively if you fall a little behind on your less.

There are many advantages to leasing a car and you should carefully consider these advantages when you are in the market for a new vehicle for business or personal use.