Leasing a car offers several advantages over buying one. One of the key benefits is the lower monthly payments, as you're only paying for the vehicle's depreciation during the lease term, not its full value.
When you lease a car, you make monthly payments for the right to use it. These payments are typically lower than if you were to buy the car because you're only paying for the vehicle's depreciation during the lease term.
Leases usually last for two to four years. During this time, you're responsible for maintaining the car and keeping it within the mileage limit specified in the lease agreement.
At the end of the lease, you have several options. You can return the car and lease a new one, buy the car at its residual value (the estimated value at the end of the lease), or simply return the car and walk away.
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