Leasing New Option for Less-Affluent Buyers

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Vehicle leasing has long been an option reserved only for the upper echelon of vehicle buyers, but that trend has finally gone down. Today, leasing is looking like a better and better option for less-than-qualified buyers, and auto dealers are looking for just about any way to make a buck and move their inventory in this horrible economy. With the credit markets opened again, customers with lower credit scores are jumping at the opportunity to lease a vehicle instead of buying it, which means lower monthly payments.

Not only that, but its great for dealers too, as many people get tired of the leased vehicle and come in to lease a new vehicle, meaning more repeat business. The typical lease time is just 41 months, whereas financing options extend the payment out to almost 80 months – sometimes more – costing people more money in the long term. But the auto dealers don’t see that, as it’s mostly interest paid to the loan company and not the dealer. Auto transport companies are interested in the lease deals too, because the more that people lease, the more they may ship, which means more business in the long run. Either way, it might just be time for you to lease a vehicle instead of buying one.

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