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Vehicle leasing is the leasing (or the use) of a motor vehicle for a fixed period of time at an agreed amount of money for the lease. It is commonly offered by dealers as an alternative to vehicle purchase but is widely used by businesses as a method of acquiring (or having the use of) vehicles for business, without the usually needed cash outlay.
Consider the pros of leasing a car. When you lease a car, you sign a contract allowing you to drive it for a period, such as three or four years, after making a down payment, such as 10%.
You'll likely have the option to buy the car at the end of the lease for a price predetermined in the contract; this option is appealing if you like the car and haven't had any major issues with it.
Once the car is paid off, you have a vehicle you can do whatever you like with—keep driving it, sell it, trade it in, hand it down to a relative, donate it, or turn it into a track-day project ...
A lease is a contractual agreement between a person who owns the property (lessor) and a person who gets to use it during the term of the lease (lessee). Usually, car leases allow the lessee to drive the car for a certain number of miles for a certain number of years.
When your lease is over, you return the car and sign a new lease on an even newer car if you'd like. This means you're always in a new car, which can be nice if you work in a field where you ...
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