[Wake County Titan]

Lease rates are not that great anymore. It used to be you could lease a car for 3 years for a lower monthly payment than a 5 year loan. It's not longer true. Just ask for a lease quote and a 5 year loan quote and you will see. I was told by a finance manager that the leasing companies have taken a bath because the resale value of cars was lower than expected. Consumers just handed in their cars at lease end rather than re-finance the payoff. Lease companies are raising their rates and lowering the residual values so they do not get pinched again. All the other advantages of financing over leasing still apply as well (mileage restrictions, vehicle condition, insurance coverage, etc)