You agree to pay for insurance, licenses, taxes, repairs, and maintenance. The leasing provider retains ownership and title to the vehicle throughout the lease. At lease-end you can simply return your vehicle to the provider, or you may purchase the vehicle and continue driving it. Banks, credit unions, and financial divisions of major car manufacturers lease cars. Dealers simply act as agents of a leasing provider, such as Ford Motor Credit or GMAC, to arrange the lease on your behalf.
Dealers typically work with more than one provider.
Once you've picked out the car you want, the dealer sells it to the leasing provider, who leases it you. You can arrange for lease financing yourself with an independent leasing company, bank, or credit union after you've negotiated price with a dealer. Some lease providers even work with dealers to acquire vehicles for you at reduced prices, saving you money and the stress of negotiation. Who Should Lease Leasing makes sense for many people, but not for others. Leasing is a great way to lower your payments or drive a better car for you money, but you must be comfortable with having no ownership of your vehicle, unless you purchase at lease-end.