What Happens When You Lease a Car?

What Happens When You Lease a Car?

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Leasing a car is a lot like renting one—but for a much longer period of time. When you buy a car, you own it after you’ve made all your monthly payments. 

Though leasing isn’t a fit for everyone, it can be convenient and is worth considering. Here are seven reasons leasing a car might be a good option for you. 

You Get to Drive Newer Cars

If you’re the kind of person who likes driving a new car, leasing your vehicle may be a better option than buying one. Cars can wear down quickly, so if you buy a new car, you might owe more than it’s worth after you make the initial purchase. 

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You Probably Pay Less Up-Front

Traditional car loans usually come with somewhat hefty down payments. But if you lease instead, you’ll likely have a lower down payment than you would with a normal loan. 

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When you lease, you’ll probably drive a newer car, which can be a safer and more reliable option. The newest cars have the most recent safety features and are compliant with current safety regulations, which older cars might not meet. 

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You Get to Drive a Safer, More Reliable Car

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You’ll Likely Spend Less on Repairs and Maintenance

Most of the time, the vehicle you’re leasing will still be covered by the manufacturer’s warranty, so you won’t have to foot the bill for many expensive repairs. There’s also a good chance that basic maintenance, such as oil changes, are covered in your lease agreement or car warranty.

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