The Future of Car Leasing: Short-Term Contracts and Flexibility

Do you need a vehicle, but only for a short time? Leasing is a good option, but traditional leases last for several years. If you don’t want the long-term commitment of a lease or loan payment, you may have some other options. Short-term leases are becoming increasingly popular for drivers who are not sure about their long-term plans.

What Exactly is a Short-Term Lease?

A standard lease usually lasts between two and three years. But what if you only need a vehicle for a few months? Maybe you’re headed overseas, or you’re moving to the city, where owning a car just isn’t practical. A short-term lease offers the flexibility to make an early exit, so you are not stuck in a lease agreement for longer than you need.
Just like a traditional lease, the agreement will specify the number of miles you’re allowed to drive before incurring additional charges, and when the lease agreement is up, you have to return the vehicle to the dealer.

Benefits of Short-Term Contracts

A short-term lease has several benefits. It can be more cost-effective for drivers who only need a car for a few months. In many cases, the only other option is a rental, which can be expensive.
Choosing a lease allows you to drive the latest models. You can try out a vehicle you’re interested in, and if you don’t like it, you only have it for a few months. This is even better than a regular lease, where you are stuck with a vehicle you may not like for several years.

Let’s Cover the Drawbacks, too

There are some downsides to short-term leases. Since you are only committing to driving a vehicle for a short time, the monthly payments are often higher than a long-term lease. You’ll also want to consider the mileage restrictions. If you lease a car for a specific trip, you might be charged extra if you go over the allotted mileage.

Micro Leases – For More Flexibility

A micro-lease is similar to a short-term lease, but they are offered by specific companies. These leases sometimes come with extra benefits such as routine maintenance, a limited warranty, and vehicle registration, and some companies even offer roadside assistance.

Where Can You Get a Short-Term Lease?

Now that you know more about short-term and micro-leases, are you wondering where you can get one? Well, one of the first places you can check is a car dealership. Some dealerships offer these short-term leases as an alternative to the traditional lease.
If you don’t find what you’re looking for at a dealership, there are several companies that specialize in micro-leases. AutoNation Mobility, Flexcar, and FINN are a few of the companies worth checking out. You can find month-to-month leases with $0 down and lease agreements with the option to buy if you decide you can’t live without the car.