Leasing a car means entering into a long-term rental agreement for driving the new car. Leasing a car includes: lower monthly payments, $0 down payment, no depreciation worries, no resale hassle. Unlike a traditional car purchase, you don’t actually own the vehicle. Instead, a leasing company purchases the vehicle from the dealer on your behalf and then you make monthly payments to the leasing company for the duration of your lease. After this term ends there are options like returning the vehicle to the company or purchasing it at a residual value, which is defined in the lease contract. Leasing a new car offers many benefits to enjoy. As of August 2022 – you can get a discount when returning your old lease or trading in your used car.