Some of the Pros and Cons of a Leasing a New Car

Leasing a new car can be a great financial option for those who want to drive a new car without having to purchase it outright. The main advantage of leasing is that monthly payments are usually lower than what you would pay for a loan on an equivalent car. Additionally, since you are only renting the car, you will not be responsible for any of the repairs or maintenance costs during the lease period.

However, there are some downsides to leasing. You will always have a car payment since you will never own the car you are leasing. You will also have to stick to strict mileage limits and wear and tear restrictions, and you may have to pay extra fees if you go over them. Additionally, when you turn in the leased vehicle, you will not receive any equity for it.