Leasing is
simply a 3-yr or more rental agreement
You are renting the car for a period of
time that you will return at the end of
your leasing agreement.
- The advantage of leasing is that the monthly
payments are significantly lower than
financing.
- The disadvantage of leasing is that you
will not be building any equity value.
You don't own anything.
The financial advantages
and disadvantages of leasing
will vary
by person and circumstances.
- If you are a person
who must drive a new car every 1-3 years, then leasing may be your best financial
option.
- If you are a person
who likes to replace your car every
5 years, then either leasing
or financing will be your best financial
option.
- If you a person
who likes to drive the same car for
7 or more years, then financing
would be your best option.
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