The Advantages and Disadvantages of Leasing a Car

Does leasing a car make sense for you? To help you decide, consider the following:

Advantages

• Monthly payments and down payments are often reasonable
• Most repairs are covered by warranty
• Sales tax is low
• You can drive a new car every few years
• You never have to sell it; just return it at the term's end.

Disadvantages

• Equity is never gained
• Buying out the lease is much more expensive than purchasing it in the first place
• Exceeding the mileage limit and nicks and dings are costly
• Lease offers can be very confusing
• Getting out of a lease is difficult and expensive

Your credit union wants to help you master your money. We've partnered with BALANCE, a financial education and counseling service that can help you get your finances in order, pay down your debt, and reach your goals – all at no charge to you. Call 888-456-2227 or log on to www.balancepro.net for more information.