Tip 66 - What are the non-tax advantages to leasing a vehicle?

Leasing advantages:

$image\BULLET.gif$ less investment upfront;

$image\BULLET.gif$ you don’t have to worry about selling your vehicle later;

$image\BULLET.gif$ reduced monthly payment on more expensive vehicles, and

$image\BULLET.gif$ leasing approval is generally quicker and easier than buying approval.

Leasing disadvantages :

$image\BULLET.gif$ you do not own anything at the end of the term of the lease,

$image\BULLET.gif$ lease contracts tend to be more complicated than purchase agreements,

$image\BULLET.gif$ you can be held financially accountable for any damage considered in excess of normal wear and tear of the vehicle; and

$image\BULLET.gif$ you will be held financially accountable for mileage in excess of agreement limits.