 TITLE: Is Leasing a Car a Good Idea? CONTENT: What Are the Benefits of Leasing a Car?\n---------------------------------------\nLeasing a car has potential benefits that may appeal to some drivers:\n*   **Lower monthly payments**: Monthly payments for a car lease are usually lower than monthly car loan payments, so leasing could mean spending less money each month to drive the same car. Experian's State of the Automotive Finance Market report published in the second quarter (Q2) of 2020 found that, on average, monthly lease payments for the ten most-leased car models is $102 cheaper than loan payments (with some being as much as $150 to $200 cheaper).\n*   **Smaller down payment**: Car leases often require an upfront fee, but they're typically less than what you'd pay for a car loan down payment. If cash is tight for you, leasing could help you afford a car sooner.\n*   **New-car experience**: If it's important to you to drive newer cars, a lease can make this more affordable than buying. Since leases usually only last two to four years, you can constantly upgrade to new cars with the latest safety and technology features. You can try out different cars more frequently, and since the vehicles are newer and you only have them for a few years, they may be less prone to mechanical issues.\n*   **Reduced hassle**: If you own a car and no longer want or need it, you have to sell it or trade it in, which can be quite a pain. When you lease, upon the end date, you simply return the vehicle.\n*   **Some covered costs**: With newer leased cars, the warranty may cover any issues you run into. And in some leases, the lessor will pay for servicing or car problems not covered by the warranty. This isn't always the case, but if your lease covers these costs, you can avoid paying for car issues (though you'll likely have to pay for routine maintenance such as oil changes and new tires). END