How to Read Your Motor Vehicle Lease
… and how to know if you’re getting a good deal on financing your new car.
Note: this is the 2nd of a 3-part series on buying versus leasing a new car. Part 1 is here:
There are several advantages to leasing a new motor vehicle, compared with purchasing, but the advice that you get from most finance writers and dealer finance departments is really bad.
The fact is that whether to buy or lease a motor vehicle is one of the most complicated financial decisions that any consumer might face. It’s so complicated, and difficult to decode, that some people simplify the decision by reducing it to a moral choice, rather than a financial. You might hear people say, “Never buy a new car. Always buy used.”
Or you might hear, “Always pay cash,” or “Never, ever lease, unless you’re one of those idiots that has to drive around in a new car every three years.”
