First, leasing is only an option for financing brand new cars, not used cars, although leasing of used luxury cars is available from specialty car dealers in some cities. Leases and purchase loans are simply two different methods of automobile financing. read more
Vehicle leasing offers advantages to both buyers and sellers. For the buyer, lease payments will usually be lower than payments on a car loan would be. Any sales tax is due only on each monthly payment, rather than immediately on the entire purchase price as in the case of a loan. read more
When you lease a car, you are basically paying for the right to use a car for a time period, usually for three years. After that time, you simply return the car, trading it in for a different model or year. read more