My Notebook Store and retrieve favorite vehicles, articles and more. The number of leases grew substantially during the first half of the 1990s but has leveled off as both consumers and auto companies realize leasing is not right for everyone.
Many people still buy rather than lease simply because they are more comfortable owning their car.
Some financial advisers argue that most advantages to owning a car have disappeared, making leasing more attractive. And some consumers, as soon as they pay off the loan on a vehicle, rush out and buy another one, renewing a perpetual round of monthly payments. But that benefit is likely to cost you. For most consumers, leasing a new vehicle every two or three years turns out to be more expensive than buying one and keeping it for a while after the final payment. Before you jump on the leasing bandwagon or flatly reject it, it pays to have a better understanding of the terms and rules governing this popular alternative to buying.