- Shorter. According to Edmunds.com, the average term has dropped from 42 months to 36 mainly due to 24-month leases becoming more common.
- Cheaper. The average monthly payment has dropped to $412 from $432 and the money factor (interest rate) has almost been cut in half, falling to 2.8 percent from 4.9.
- Less generous. The number of miles included is also dropping, from an average of 13,000 down to 12,000. Some automakers are even offering leases with as little as 10,000 miles a year.
How Much Coverage Does A Leased Car Need?
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