Why leasing is a bad idea

Leasing a car is the biggest scam out there. Why do you think car companies do this? They are actually making more money renting their cars to you than they are selling them. Thankyou for this very thorough and informative publication.

I have not leased a car but am seriously thinking about doing so. You have answered my questions in an easy to follow manner. Thank you for your comment. If you have any further questions and are still considering leasing, renting or purchasing a new vehicle, one of our vehicle specialists would be very happy to help you. We have over years of combined experience and are an established company.

If you would like to speak with us, our contact number is This site uses Akismet to reduce spam. Learn how your comment data is processed. This website stores cookies on your computer. These cookies are used to improve our website and provide more personalised services to you, both on this website and through other media. To find out more about the cookies we use, see our Privacy Policy. Why is car leasing a bad idea? What is bad about car leasing? There are mileage restrictions When you lease a car you are restricted by how many miles you can do a year and over the course of your contract.

There are additional costs One of the biggest misconceptions about leasing a car is that there are a number of hidden costs. For more information regarding car financing and leasing, please call us at Learn more. Please give us a call today at CU SoCal provides access to convenient money management services and offers competitive rates and flexible terms on auto loans , mortgages , and VISA credit cards —turning wishing and waiting into achieving and doing.

Unless you're extremely careful and thorough, you could end up paying a lot more than you should. Hard to Cancel Leasing is like signing a rental agreement. You can't just walk away from it - there are stiff penalties if you do. If you purchased a vehicle instead, you could always sell it if you don't want it anymore. With a lease, it's practically impossible to terminate, although there are some options available.

Requires Good Credit If you have bad credit, don't even think about leasing. Overall financing costs during a lease are always higher than a loan because you never pay off any principal. Besides, most leasing companies require you to have a decent level of credit and a stable financial situation. Lots of Fees There are many fees associated with leasing that you won't find anywhere else. In addition, there are an assortment of excessive " wear and tear " fees that you could be liable for when you turn in the vehicle.