Car leasing (auto leasing) is essentially a way of obtaining a vehicle for a set period of time. Leasing is not renting and renting is not leasing, nor is it financing. There is a big difference between leasing a car, renting a car and financing a car. Who should lease a car? It's not for everyone, it's up to you, the consumer to weigh the options and see which vehicle financing option suites your needs and lifestyle best.
Leasing a Vehicle
It's not difficult to understand how car leasing works, though we'll get into that shortly. All you need to remember at this point is that car leasing is simply a means to pay for your vehicle, whether it’s a Ford truck, Acura Legend, Honda Civic, Jeep, Harley Davidson or Kawasaki motorcycle, etc. It’s also commonly known as “purchase-repurchase” or “buyback”. You get a new or used vehicle for X number of months/years and your return it when your car lease agreement is done. It’s a great deal for you and the dealership. You get to “borrow” the vehicle for a monthly cost and upon return; the car dealer can sell the vehicle for slightly used.
Leasing is an option that lets you pay for the portion of a vehicle you expect to use over a specified term, plus a rent charge, taxes and fees.
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