Is Leasing for Me?
Leasing is probably the most misunderstood concept in the car business. Noted authority Buzz Doering says,
“Leasing isn’t better or worse, it’s different.”
In simple terms, leasing is only paying for the part of the car or truck that you use. Typical lease terms are between 2 years and 4 years, with 3 years being the most common in the industry today.
Some of the things that people say when they dismiss leasing as not right for them are:
- “I don’t have anything to show for my payments when the lease ends.”
- “I drive too many miles to lease.”
- “I keep my car for too long to lease.”
Many times, people that say these things would actually benefit from leasing their vehicle. In future posts, we will discuss the differences between buying and leasing for each of these situations. With better understanding, you can make your own decision on what’s best for you.