Leasing Your Car

You may determine that leasing a car is a better option for you than buying a car. Leasing a car means that you are essentially "renting" the car from the dealer or leasing company for a certain period of time (usually more than 12 months). At the end of that period you return the car to the dealer.

Why might you want to lease a car? There are a few reasons:

You like having a new car every couple of years.

You aren't able to afford the monthly payments to purchase the car you want.

You don't put a lot of miles on your car.

Remember, however, that leasing is different from buying. When you lease, you pay for the use of the car and return the car at the end of the lease. Leasing a car is similar to leasing an apartment. You have the right to use the car as long as you make the payments on time.