Car leasing is a flexible way of driving a vehicle without owning it outright.
It operates on a rental basis where you pay a monthly fee to use the car for a specified period, often two to four years.
Unlike buying a car, you're essentially paying for the vehicle's depreciation during the lease term rather than its full value. Leasing typically involves an upfront deposit payment, monthly instalments.
It's popular for those who prefer driving newer cars, want lower monthly payments compared to buying, and enjoy the convenience of easily switching to a new vehicle at the end of the lease term.
At the end of the lease, you return the car, and depending on the terms, you might have the option to purchase it at a predetermined price.
Things to consider when deciding if a lease agreement is right for you, if you choose to send the car back early there could be early termination fees to pay, when returning your vehicle either early or at the end of the agreement there could additional fees, such as for exceeding mileage limits or wear and tear costs.
