Car Leasing vs. Borrowing Money

• Leasing a car usually costs more than borrowing the same amount of money, because you are paying for the car while it is depreciating the most.
• If you lease one car after another, monthly payments go on forever.
• You need to bring the car back in “as it left the showroom” condition, minus usual wear and tear, and configured like it was when you leased it.
• You are still on the hook for expendable items such as tires, which can be more expensive to replace on a better-equipped vehicle with premium wheels.
• You may have to pay a fee when you turn in the vehicle at the end of the lease.

Learn about the costs and considerations of car leasing compared to borrowing money to purchase a car, including the impact on monthly payments, maintenance responsibilities, and end-of-lease fees.