Advantages and Benefits of Golf Cart Leasing
Golf Cart Leasing can give you more advantages and be an attractive alternative to buying a golf car. In the article below we will compare the pros and cons of leasing a golf cart. We will also list the benefits you get from leasing a golf cart from us.
What are the Advantages of Leasing a Golf Cart?
- No Down Payment - When financing a golf cart you are under most circumstances required to put a down payment to secure your investment into that cart. All that is due with a lease is the initial months pay.
- Lower Monthly Payments - Your monthly lease payments are 30%-70% lower than the cost of a purchase loan for the same golf cart with the same terms.
- Newer Cart, More Often - Drive a late model golf cart every 2 to 4 years, depending on the term length of your lease. We can certainly arrange even a lease to best fit your desired needs.
- More Cash For Other Expenses - When purchasing a new or used golf cart you can count on paying over $3,000 right away which doesn't allow much cash for other needs. With a set amount deducted each month you know your expenses so you can budget other needs.
- Fewer Maintenance Headaches - Lease a golf cart with a manufacturers warranty and sign the lease for a term that is covered under that warranty. This kind of coverage will benefit your lease should something go wrong with the cart.
Now the Disadvantages!
- Excessive Wear-and-Tear Charges - If you return a leased golf cart that has not properly been maintained and doesn't show normal wear and tear, you will be charged. This includes dents, scratches, cuts in the seat, or un-repairable accident damage. The value of the cart must be consistent with its age and not its condition. We will define these "excessive" damages before the lease so you will know if you should get them repaired before returning your cart.
- Nothing to Show - You lease a cart for that very reason, to lease, so understand that after the lease is up you have no ownership equity in the cart. The reason you lease is a trade -off for low monthly payments and gets you in a later model vehicle. However, it is common that the market value of your cart at the end of your lease is higher than the purchase option price we specify in the leasing contract.
- Treat the Cart Like Your Own - A lease isn't designed for ignorant leasers to rag our cart out and expect no consequences. We expect all leasers to take care of the vehicle like you would your own. This is not bumper cart you would find at an amusement park.
- Early Termination Cost - Terminating your lease prior to the arranged terms of the lease will be subjective to very high buy-out charges. Usually this charge is equal to the remaining months of your contract but can be negotiated prior to signing your lease.
In closing their are many pros and cons you should take in consideration before making a leasing decision. We are not trying to steer you in one direction or another but rather provide you with insight to help make your decision easier by weighing the differences. No that there are financial differences between leasing and buying that should be considered. Give us a call and let us tailor a leasing program that best fits your individual needs.