Leasing

LONG TERM LEASING

What is leasing? Leasing a car means that you take possession of that car and it is yours to use, but the dealer still owns the car. It is just like renting an apartment, in that you are paying for the right to use the product for a specific term, but at the end of that term, possession reverts to the original owner. However, unlike an apartment renting situation, you will often actually have the option to buy once the terms of the lease are complete. You don’t have to decide this until the end of the term, so you are not signing on for any commitment beyond the terms of the original lease when you lease a car.