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Mileage fees. One decision to make when leasing a car is selecting how many miles you expect to drive it. Three-year leases typically offer options of 10,000, 12,000, or 15,000 miles annually.
The monthly lease payments may be much lower than you would pay if you take out a loan for a new car. In fact, the payments may be a lot lower for a much newer model.
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.
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.
A Lease-Purchase Contract, also known as a lease purchase agreement or rent-to-own agreement, allows consumers to obtain durable goods [1] or rent-to-own real estate [2] without entering into a standard credit contract. [1] It is a shortened name for a lease with option to purchase contract. For real estate, a lease purchase contract combines ...
Regardless of whether a car is secured directly from a dealer, or an older person takes over a car lease for the remainder of the term, lessees have the option to buy the car at the end of the ...