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Why is leasing popular?
Home » Automobiles » Leasing a Car » Why is leasing popular?An estimated 20% of consumers lease their car instead of buy it. There are two major reasons to consider leasing. The first is that new car prices have risen considerably, and you might not be able to afford a brand new car. The second reason is that - since the 1980s - new federal tax law changes have eliminated finance interest deductions on automobile loans. This has further increased ownership cost. The net effect is that people have become increasingly eager to find ways to make personal vehicles more affordable.
Leasing has become popular because it offers people a way to drive the vehicles they want -- in most cases better vehicles than they could buy -- for less money and less hassle. Low monthly payments are the big attraction, although we'll soon find out why it's important to look at other factors before deciding to lease.
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