Final answer:
A person might prefer leasing a car for their daily commute due to the smaller down payment and lower monthly payments it offers, in addition to avoiding additional expenses from exceeding mileage limits. Leasing also allows for easier transition to newer models without the hassle of selling a purchased vehicle. Other considerations include evaluating the risks of buying a used car and the impact on insurance premiums.
Step-by-step explanation:
A person who only needs a car for the daily commute might prefer leasing a vehicle over buying due to several financial advantages. Leasing a car typically requires a smaller down payment and offers much lower monthly payments than purchasing a vehicle outright. This financial flexibility can be particularly appealing to those who prioritize a new car experience and a predictable budget.
However, it is important to note that leasing comes with a mileage limit, which can incur additional costs if exceeded. People who have a predictable commute and stay within the set mileage can benefit greatly from leasing, avoiding the extra expenses involved in higher mileage. In addition, leasing allows for easier upgrading to a newer model every few years without the hassle of selling or trading in a purchased vehicle.
It's also essential to consider other factors when deciding between leasing and buying, such as long-term ownership, the potential risks associated with buying a lemon, and added costs like insurance premiums, which may be affected by various factors including the car model, your age, and driving history.