Chrysler to get out of leasing business
Chrysler to get out of leasing business
Chrysler to get out of leasing business
DETROIT - Chrysler LLC said Friday its financial arm will get out of the auto leasing business by the end of the month because economic conditions have made leasing more expensive than buying, for both consumers and the company.
The move comes as Chrysler Financial is in the process of renewing a $30 billion credit line with banks amid a startling drop in values for leased trucks and sport utility vehicles that are coming back to automakers as leases end.
http://finance.comcast.net/www/news....25/1018986.xml
DETROIT - Chrysler LLC said Friday its financial arm will get out of the auto leasing business by the end of the month because economic conditions have made leasing more expensive than buying, for both consumers and the company.
The move comes as Chrysler Financial is in the process of renewing a $30 billion credit line with banks amid a startling drop in values for leased trucks and sport utility vehicles that are coming back to automakers as leases end.
http://finance.comcast.net/www/news....25/1018986.xml
Re: Chrysler to get out of leasing business
Originally Posted by radmanly
economic conditions have made leasing more expensive than buying,
I know lots of people like the option, so of course it's good for them.
But except for the lower payment for the leasee, I always thought leasing was more expensive...
At the end you end up with two choices:
- buy at a higher than used price, OR
- walk away empty handed
Also I could never stay under the mileage restriction - I put nearly 5000 miles per month on my cars, it just wouldn't work for me no matter how I cut it.
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