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If you’ve started searching for new cars, you may have noticed that you’re finding a lot of options for Honda lease offers or special rates for a leased Cadillac. But what does leasing a car really mean?

What Is Leasing?

When you lease a new car, it’s similar to a rental. Rather than paying down a loan to eventually own the vehicle, you’re paying a typically lower fee to drive a vehicle for a specified period of time. Many drivers find it feels like owning a new car, just for a shorter period of time.

Leasing a Car vs Buying a Car

For most drivers, it’s going to depend a lot on how you expect to use your vehicle and your personal preferences. Leased vehicles typically come with restrictions on how many miles you can put on the Mitsubishi car, RAM truck, or Acura SUV in a one-year timeframe, as well as an expectation that the vehicle will be returned in like-new condition. If you plan on mostly driving around town and taking good care of a vehicle, leasing is great! If you’re a road warrior who could put a lot of wear on a vehicle, owning might be a better option.

You’ll also want to consider costs. Purchased cars generally have a larger initial payment and larger monthly payment because drivers are paying down the entire value. While you won’t build equity or ownership with a leased car, lower upfront and monthly costs often mean you can afford a nicer vehicle. If you’re someone who likes the newest and best, leasing is an easy way to upgrade your car regularly.

"Leasing a Car near Me"

Wilkes-Barre, Scranton, and other drivers in Pennsylvania and North Carolina can find models from a Hyundai Elantra to a Lexus NX at one of our MotorWorld | MileOn Autogroup dealerships. Call an expert car dealer today to learn more about what it means to lease a car!

Categories: Finance, New Inventory