Leasing vs. Buying a New Car

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The choice between buying and leasing has often been a tough call. On one hand, buying involves higher monthly costs, but you own something in the end. On the other, a lease has lower monthly payments, but you get into a cycle where you never stop paying for a vehicle. Now, more people are choosing a lease over a car loan than just a few years ago. And it looks like the boom in leasing isn’t stopping anytime soon.

The Changing Landscape

A number of converging trends have changed the leasing landscape for the average consumer. For decades now, a large proportion of luxury cars have been leased. But that has changed, with more compact cars, mainstream sedans, and small SUVs entering the new-car lease market, as well. Attractive finance rates have made some leases pretty good deals.

Automakers benefit by leasing a big portion of a car’s production. Leases help…

For the rest of the article, please visit https://www.consumerreports.org/buying-a-car/leasing-vs-buying-a-new-car/.

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Last modified: March 21, 2019

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