Should You Lease a Car? The Real Pros, Cons, and What You Need to Know
Leasing a car isn’t for everyone — but it might be exactly what you need. I get questions about leasing every single day:
Should I lease or buy? What are the real benefits? How many miles do I get? What about maintenance?
Today, I’m breaking it all down for you.
Let’s start simple. A lease is basically a long-term rental agreement. You agree to use a vehicle for a fixed amount of time — usually 2, 3, or 4 years — and pay a monthly fee. At the end of the lease, you either turn the car in or have the option to buy it for a predetermined amount.
That’s the basics. But here’s where it gets interesting.
One of the biggest perks? You're always driving something new.
Every few years, you upgrade. That means you’re always within the manufacturer’s warranty period.
Think about that:
No major repairs. No unexpected costs. Just oil changes and regular maintenance — which, in most modern cars, is only every 7,500 to 10,000 miles.
In my 23+ years in this industry, I’ve come to see leasing as a way to transfer risk to the manufacturer. You’ve got a payment, sure — but you’ve also got peace of mind.
Lease payments are usually lower than finance payments on the same vehicle. That means you can:
Drive something nicer for less money.
Invest the difference in your future.
Keep your financial plan steady — no surprise transmission failures wiping out your savings.
And for folks on a budget, that predictable monthly cost is a big win.
Yes, leases come with mileage limits. But here’s the deal:
You can lease a car with up to 30,000 miles per year — you just need to set it up right from the beginning.
The key is to be honest with yourself about how much you drive, then build your lease around that. And please — read your paperwork before you leave the dealership. Double-check the boxes, understand your mileage limits, and make sure it’s tailored to your needs.
Here’s a real-world example:
You finance a sports car for 72 months. Two years later? Surprise — baby on the way! Now you need an SUV or minivan, and you’re stuck in a loan with negative equity.
Leasing gives you flexibility. If life changes, your vehicle can change with it — and you're never locked in for too long.
Leasing isn’t for everybody. But if you:
✅ Want a new car every few years
✅ Don’t want to worry about repairs
✅ Appreciate lower monthly payments
✅ Need flexibility as life changes...
Then leasing could be a great fit.
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Ronnie Haskins
Helping you make smarter car decisions.