What is auto leasing?

Auto leasing is a method of obtaining a vehicle for a set period of time by making monthly payments, rather than purchasing it outright. At the end of the lease term, you typically return the car to the dealership, although some leases offer the option to buy the vehicle. Leasing often requires less money upfront and lower monthly payments compared to buying, but there are usually mileage limits and potential fees for excess wear and tear. It's a popular option for people who like driving new cars every few years without the long-term commitment of ownership.