Shore Auto Lease
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Auto Leasing Basics
By Brennan Howe
There's a shiny new Pontiac G6 parked in your next-door neighbor's driveway. Standing proudly next to it is a gleaming new Jeep Grand Cherokee. This is the second time in four years that your neighbor and his wife have driven home on brand-new sets of wheels. Unless you live right next to state lottery winners or an organized crime family, there could be a more plausible explanation for your neighbors' seemingly good fortune: they might be leasing.
What is automotive leasing?
Automobile leasing is paying for the use of the car, rather than paying for the car itself. Monthly lease payments are based on the projected cost of the vehicle's depreciation over the period covered by the lease. For instance,...
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