Automobiles
Leasing a motor vehicle
Advantages include
- Smaller initial outlay than down payment when buying on credit
- Monthly lease payments may be less than monthly finance payments
- Lease agreement provides detailed records for business purposes
- Often times, all service charges related to maintenance are
included in the lease, so there is no additional outlay of money
for regular maintenance.
Disadvantages include
- No ownership interest in the vehicle
- Must meet requirements similar to applying for credit
- Additional costs occur (such as for extra mileage, certain repairs,
or for ending the lease early)
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