Maintenance & Repairs for your car
One of the disadvantages of used-car leasing is the added expense of maintenance and repairs. Tune-ups, new tires, brakes, belts and hoses, radiator flushes, etc. —these can all add up to $1,000 (or more) for repairs that most cars will need between 30,000 and 60,000 miles. Spread out over the term of a lease, this $1,000 means an extra $42 per month for two years, or $28 per month for three years. And that’s just for “expected” maintenance and repairs Unexpected problems in the engine, transmission, and for computer system could easily cost another $1,000 to $2,000.
That may not be a lot to spend on a car you own if it means that you can drive it for a few more years. But how are you going to feel spending money on a car you don’t own? Especially if you have to give it back right after paying for major repairs?
In case you’re thinking that you can let some of those repairs go, a lease requires you to maintain the vehicle in good condition. If you don’t, you can be charged for “excess wear and tear” and/or “improper maintenance” at the end of the lease. You can’t avoid maintenance and repair costs, so be sure to include those expenses when calculating the total cost of a used-car lease.
And that brings us to another potential pitfall of used- car leasing: paying for extended warranties to cover major repair bills.