Posted By RichC on March 3, 2008
Leasing a car is a popular option when shopping for a new car and it makes sense in some situations. In fact as prices of new cars rise, so do the number of people opting for leasing since the initial monthly outlay is generally lower. According to Motorweek, over 17 million Americans are now in automobile leases. The long running PBS automotive television program offered some advice to those considering leasing and clearly points out the pluses and minuses. Besides the mileage overage charge, which got me in trouble back in the 1990s, Yolanda Vazquez points out that other overlooked costs are the acquisition fee, disposition fee and the “dreaded” early termination penalty.
An interesting option for those wanting out of a lease is LeaseTrader.com, a site that matches up those wanting to save money by opting for a secondhand lease and those needing out of a lease. If you are looking for low cost option, this might be a great place to get a deal from someone willing to “pay you” to acquire their lease? Check out the video clip below.