How Does Leasing Work?

Leasing benefits speak for themselves: you pay less, are protected by a manufacturer-backed warranty, and get to upgrade every few years. Here’s how leasing a car works:

• Instead of financing the whole car’s value, you pay for the value lost over the years you’re driving it.
• You choose your vehicle and work out a lease term. This involves everything from term length to payment size to the number of miles you can drive each year.
• At the end of the lease term, you give the vehicle back and usually trade into a newer model.

Before you start, make sure you check out leasing incentives and specials to ensure you get the right deal. Know exactly what you want in terms of features, mileage, and so on.