Leasing a Car? Don't Forget These 5 HIDDEN Costs

Leasing a car can be the perfect choice for many people.

Monthly payments are often less than those for purchasing a vehicle, drivers can get a brand-new car every couple of years, and concluding the lease can be as simple as turning in the keys.

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There are five essential costs to consider in addition to upfront costs! This helps estimate the true cost of leasing.

SO NOW...

WHAT ARE THE 5 COSTS?

Residual Value

Residual value plays a role in determining the size of monthly payments. The higher the residual value, the lower the monthly costs.

Money Factor

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Mileage Fees

Three-year leases typically offer options of 10,000, 12,000, or 15,000 miles annually. Exceeding the number of miles selected will trigger mileage fees.

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