By: John Lester
Published: Jun 27, 2021

Car Leasing Pros Cons

Here’s some information car leasing pros, cons, if you’re trying to determine the benefits. Leasing a car provides some benefits that buying one does not. However, while some of that are the pros, there are some cons and disadvantages.

The benefits:

The first difference for car leasing pros cons is the downpayment. Leasing a car usually requires a lower downpayment than purchasing. Some plans do not require one at all.

Your car is always new when you lease it. In fact, you get a new model car every time. After the vehicle has been driven for a few years, you can return it to the dealer and get another one.

In a lease you are only paying for the time you are using the car rather than buying it, so you will never be in a position where you owe more than what the vehicle is worth.

The disadvantages:

When leasing a car, make sure you clarify any vague terminology in the lease. Many leases charge you extra for “additional mileage” and “excessive wear and tear” but these terms may not be clearly defined.

If you have the need to end a lease early, expect to pay early termination fees. These can be excessive, so read your lease carefully before committing.

Any customization to a leased vehicle that would alter it in a permanent way is not allowed under a lease.

When you lease a car, you are essentially renting it for a specific period of time. This means you never own the car you are driving, so you will always have a monthly car payment as long as you lease.


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