An Auto Lease (car lease) is a contractual agreement between a lessor (the leasing company or dealership) and a lessee (the individual or business) for the temporary use of a vehicle in exchange for regular lease payments. Unlike purchasing a vehicle outright, where the buyer owns the vehicle, leasing allows the lessee to use the vehicle for a predetermined period while making monthly lease payments, typically over a period of two to five years.

Posts

Insuring a Leased Car

/0 Comments/in /by

When leasing a car, purchasing your own auto insurance policy remains necessary, as the auto dealer or financing entity typically mandates collision and comprehensive coverage to protect the vehicle.

Read more