Leasing cars has gone through some ups and downs in terms of popularity over the past several decades. There was a time when it seemed that everybody leased a car as the rates were unbelievable. Then, leasing lost popularity as it came out that the reason for the low rates was because manufacturers were charging too little, so they had to raise prices, which led to the market falling out. I admit, I leased two cars during the leasing heyday.
Now, it seems that leasing is making a comeback. But, since automakers have learned their lessons and are not going to take losses on the lease, I’m here to tell you that leasing is a bad idea, and I present five reasons why an auto lease is a bad idea.