This fall, auto leasing is making a comeback after suffering a crippling blow caused by the recent credit crisis. Earler this year, Chrysler, Ford, and General Motors were all forced to cut back on leasing programs.
Business is still down significantly from where it was before the crisis when 20% of all auto transactions were leases, though it is up to a 2009 high as October saw 12.8% of all transactions as leases.
To lease a vehicle today however, one will need to have exceptional credit, and many of the discounts and incentives used in the past to lure people towards leases are now scarce.
Of course, the question as to whether one should lease or purchase is one that depends heavily on the needs of the individual, as it has always been.
– By: Stephen Calogera