What is the difference between lease and finance ?

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Old Feb 24, 2001 | 08:11 PM
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What is the difference between lease and finance ?

What is the difference between lease and finance ? Lease is like renting car from company, right?

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Old Feb 24, 2001 | 08:20 PM
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<font face="Verdana, Arial" size="2">Originally posted by Type S:
What is the difference between lease and finance ? Lease is like renting car from company, right?

</font>
Lease, is like renting an appartment. So, You agree to pay so and so, and you can use the car for usually 3 years (or 4 or 5 yrs).
Also, you are limited to certain amount of miles per year. If you exceed that milage, you pay for the miles driven. After the end of the lease, you return the car to the dealer/leaser.

Finance is like buying a house. After you finsih paying the car in 3 yrs (or 4,or 5) The car is yours. No limit on miles driven.

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[This message has been edited by Nashua_Night_Hawk (edited 02-24-2001).]
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Old Feb 24, 2001 | 08:32 PM
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Heh, we'll sort of. Perhaps you should read about it here: http://www.autobytel.com/content/fin...tion=ABCsLease

or here: http://carpoint.msn.com/finance_insu...=Home&pos=Buy4

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Old Feb 24, 2001 | 10:36 PM
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thanks so much

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Old Feb 25, 2001 | 04:15 AM
  #5  
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with leasing you finance a prevously decieded amount of depration over a predetermined amount of time ie you pay 30 000, and lease for 3 years 36000 miles the car is determined to be worth 20grand at the end you finance the 10grand diffrence

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Old Feb 25, 2001 | 02:10 PM
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Thank you Ken! Very good information everyone should read these links.

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Old Feb 25, 2001 | 06:02 PM
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Yes they are very informative.
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