Pros and Cons of Leasing a New Car, Truck or SUV
We’re all taught that if something looks too good to be true, it probably is. So what does that mean for those deals you see advertised everywhere? Can you really drive a new Lexus, BMW or Mercedes for $350 or $400 a month? Or are these offers too good to be true?
The fact is, you can have a new car with a monthly payment that low if you’re willing to lease. But there are strings attached. Leasing can be a good option, but it depends very much on your personal circumstances. Deciding if new car leasing is right for you requires a good understanding of both the leasing process and the pros and cons.
Here we’ll explore:
- Leasing basics – what the term means
- How leasing works
- The mileage factor
- The pros of new car leasing
- Leasing cons
- Who leasing works for (and who it doesn’t)