Is a shorter or longer car lease better?

Higher Payments With a short-term lease, you drive the car while it depreciates rapidly. And you pay for it. Monthly payments on short-term leases are typically much higher than those on long-term leases because they account for the significant loss in value that occurs during the car's first year or two.



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Leasing a car can be a good idea to avoid paying the price of vehicle depreciation that comes with buying a car. It also allows you to avoid expenses with lower car payments and routine maintenance being paid for. You can also get the newest model vehicles without having to bear all of the costs of ownership.

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You're a Low-Mileage Driver If you typically log between 10,000 and 15,000 miles per year, leasing a car might make more sense than purchasing one. Just be aware that if you exceed the mileage listed in your contract, you could be charged a hefty fine at the end of your term.

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