Car leases typically last two or three years. Leasing costs can be comparable to buying, especially if you are the type of person who frequently trades cars in for newer models. Leasing can also have tax benefits if you are in business, and you may be able to lease with an option to buy the car after the lease period expires. One of the drawbacks of leasing is that when you return the car, you may have to pay for every little scratch or dent, plus a per-mile charge if you drive over your annual mileage allowance. Watch out for the “fine print” in advertisements for automobile leases.
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