8) A longer lease a lot more the money… for the dealership
Stretching out the length of your lease makes less sense than locking down a shorter lease term but the dealership may push for just that. Why do they want a longer lease term? With a 6 or 7 year lease, as opposed to the typical 3 years, you’ve paid just about the entire new purchase price of the car with the monthly payments and then it’s time to give the car back. Be wary of any dealership that tries to get you into a lease of over 5 years. That is a red flag that the dealership may be trying to take advantage of you. For all those years, the dealership collects money from your monthly payments and then they make money from selling the car once the 6 or 7 years is up. When you buy a car, once you’ve paid off the loan, it’s yours to sell. You make the money.