What are the disadvantages of leasing a car?
With leasing you will not own the car – unless you choose to retain the car at the end of the contract. If you default on payments over the course of your contract your car can be repossessed. When you lease a car you will agree to maximum yearly mileages. Charges for exceeding these annual mileages can result in stiff penalties. You may be charged for any damage to the car when you return it. If you do not pay for a contract with maintenance you’ll have to stump up for that too. As the car is not yours you will be expected to take out a comprehensive insurance policy. This may me a significant financial commitment depending on your income. If you want to return the car before the end of the contract you may be charged a fee.
