Benefits and Drawbacks of Car Leasing:
Benefits:
- Fixed Monthly Rentals.
- Drive a new car or van every few years, typically 2 - 4 years.
- Manufacturer Warranty.
- No need to worry about vehicle depreciation.
Drawbacks:
- You don't own the vehicle.
- You have a contracted mileage. If you exceed this, you will be subjected to excess mileage charges.
- If the vehicle is returned and is below "fair wear & tear", you may face end-of-lease charges.
- If you terminate the agreement early, you will be subject to early termination fees.
