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Want a New Car, Without the Hassle of Owning a New Car? Try Leasing

Want a New Car, Without the Hassle of Owning a New Car? Try Leasing

These days, many people are leasing vehicles rather than buying them. For a lot of people, this is a much easier and less expensive option. While leasing does have some drawbacks, there are numerous advantages. Let’s take a look at the great reasons to lease and some things to consider before leasing a vehicle.

Advantages and Disadvantages

According to an expert from eAutoLease, “The benefits of leasing are numerous; a new car every two to three years, low monthly payments, full warranty, etc.” There are actually many benefits to leasing a vehicle rather than buying one. Let’s take a look at those benefits, as well as some of the disadvantages of leasing.

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  • Liability – When you lease a vehicle, you are only paying for part of that vehicle. Therefore, you have less liability in the event of an accident. However, you will likely be required to have gap coverage. This is a higher rate of insurance which many auto buyers choose as well. With this coverage, you will have a full payoff if the vehicle is destroyed or stolen, which is going to give you better peace of mind. Just remember, it is more costly to have this coverage, so it is something to seriously consider before leasing, as it is not always as advantageous as it may sound.
  • Taxes and Business Write-Offs – Because you aren’t paying the full purchase price of the vehicle, the taxes are going to be lower than if you were to buy a vehicle. You will only have to pay taxes on the payments you make. You can also use your vehicle for business and claim it as a business write-off on your taxes. For business owners, this is actually a lot easier than writing off a vehicle that has been purchased outright.
  • Maintenance – One of the greatest advantages of leasing a vehicle is the fact that you don’t have nearly as much vehicle maintenance to worry about. But, this doesn’t mean that you are off the hook if you need to have certain repairs done. You need to find out exactly what is covered in the maintenance plan and what you will have to be responsible for yourself. Remember, if you are in an accident, you are going to be liable for any repairs that need to be made, and you may be required to have repairs at a dealership, which is very expensive. Roadside assistance will be included, so you at least won’t have to pay for boosts, towing, etc.
  • Credit Approval – Getting credit approval to lease a vehicle is generally a lot easier than getting credit approval to buy a new vehicle outright. This is because you don’t have to ask for as much money, and lenders are more likely to provide credit even if you have poor or no credit to begin with.

Things to Consider

Before leasing a vehicle, there are several things that you need to consider. While there are many advantages to leasing, there can be some disadvantages as well.

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  • Look at Your Income – Even though leasing payments are much lower than financing payments, you still need to make sure that your monthly cash flow will allow you to comfortably make those payments.
  • How Much You Drive – If you do a lot of driving, you can expect to have to pay more for mileage on your leased vehicle. Many leasing companies will charge up to 20 cents for each additional mile that is not in the original lease agreement.
  • How You Treat Vehicles – Some people are harder on vehicles than others. If you find that your cars are always getting scratches and dings, it may not be best for you to lease. There will be wear and tear fees, and the more you damage the vehicle, the more you are going to have to pay.
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Jane Hurst

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Last Updated on April 8, 2020

Why Assuming Positive Intent Is an Amazing Productivity Driver

Why Assuming Positive Intent Is an Amazing Productivity Driver

Assuming positive intent is an important contributor to quality of life.

Most people appreciate the dividends such a mindset produces in the realm of relationships. How can relationships flourish when you don’t assume intentions that may or may not be there? And how their partner can become an easier person to be around as a result of such a shift? Less appreciated in the GTD world, however, is the productivity aspect of this “assume positive intent” perspective.

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Most of us are guilty of letting our minds get distracted, our energy sapped, or our harmony compromised by thinking about what others woulda, coulda, shoulda.  How we got wronged by someone else.  How a friend could have been more respectful.  How a family member could have been less selfish.

However, once we evolve to understanding the folly of this mindset, we feel freer and we become more productive professionally due to the minimization of unhelpful, distracting thoughts.

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The leap happens when we realize two things:

  1. The self serving benefit from giving others the benefit of the doubt.
  2. The logic inherent in the assumption that others either have many things going on in their lives paving the way for misunderstandings.

Needless to say, this mindset does not mean that we ought to not confront people that are creating havoc in our world.  There are times when we need to call someone out for inflicting harm in our personal lives or the lives of others.

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Indra Nooyi, Chairman and CEO of Pepsi, says it best in an interview with Fortune magazine:

My father was an absolutely wonderful human being. From ecent emailhim I learned to always assume positive intent. Whatever anybody says or does, assume positive intent. You will be amazed at how your whole approach to a person or problem becomes very different. When you assume negative intent, you’re angry. If you take away that anger and assume positive intent, you will be amazed. Your emotional quotient goes up because you are no longer almost random in your response. You don’t get defensive. You don’t scream. You are trying to understand and listen because at your basic core you are saying, ‘Maybe they are saying something to me that I’m not hearing.’ So ‘assume positive intent’ has been a huge piece of advice for me.

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In business, sometimes in the heat of the moment, people say things. You can either misconstrue what they’re saying and assume they are trying to put you down, or you can say, ‘Wait a minute. Let me really get behind what they are saying to understand whether they’re reacting because they’re hurt, upset, confused, or they don’t understand what it is I’ve asked them to do.’ If you react from a negative perspective – because you didn’t like the way they reacted – then it just becomes two negatives fighting each other. But when you assume positive intent, I think often what happens is the other person says, ‘Hey, wait a minute, maybe I’m wrong in reacting the way I do because this person is really making an effort.

“Assume positive intent” is definitely a top quality of life’s best practice among the people I have met so far. The reasons are obvious. It will make you feel better, your relationships will thrive and it’s an approach more greatly aligned with reality.  But less understood is how such a shift in mindset brings your professional game to a different level.

Not only does such a shift make you more likable to your colleagues, but it also unleashes your talents further through a more focused, less distracted mind.

More Tips About Building Positive Relationships

Featured photo credit: Christina @ wocintechchat.com via unsplash.com

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