- October 13, 2019
- Facts About Leasing A Car
- Posted by Dan Rose
- Comments Off on All You Need To Know About Your Car Leasing
To buy a car and to lease one are quite two different things. Once you purchase a car, you become fully responsible for the entire cost of the car, regardless of how long you keep it or how often you drive it. In car leasing, you only pay for a portion of the car. Leasing a car is equivocal to ‘renting a car.’ However, the choice of buying or leasing a car lies heavily on your need and financial prowess.
If you need a new car, but you’re low on the budget needed to make the monumental down payment, then the car lease will be the best bet for you. Leasing involves no down payments as its common with buying. However, you get to make monthly payments, and when you terminate the lease deal early; you have to pay fines as punishment.Types Of Car Lease
- Closed-end leases
The car’s residual value is