Where can you learn more about rent leases?

It is frequently misunderstood as a kind of "rent-to-own" scheme hatched up by clever dealers to separate good people from their money. In fact, leasing is a common financial concept that has been used in the commercial world for decades as a method of financing buildings, equipment, and vehicles — although it is still relatively unfamiliar to most automotive consumers. Car leasing is not the same as renting, as many people mistakenly believe.

Because some consumers are not adequately informed about leasing, there have certainly been cases in which mistakes have been made and in which customers' lack of knowledge has been taken advantage of, sometimes fraudulently. As with any business transaction, the key to successful and intelligent auto leasing is understanding how the process works, taking the time to properly prepare yourself before making decisions, and learning to use leasing to your benefit rather than to your disadvantage. Without at least a basic understanding of leasing concepts, knowing how to get a good deal, and knowing how payments are figured; you expose yourself to the very real possibility of making mistakes, significantly overpaying, or worse, being cheated.

Leasing is a method of financing, similar to a loan. It would be a mistake to think that consumer car leasing is like apartment leasing, apartment renting, or car renting. It is not.

The differences are so significant that any attempt to try to understand one by drawing on your knowledge of the other will only result in a serious misunderstanding.