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That is the question many car shoppers ask themselves. According to money expert Suze Orman, there is only one correct answer. Here's why Orman says leasing is a waste of money....
The average listing price of a new vehicle in October was $47,215, according to the latest report from Cox Automotive, while the average used-vehicle price was $26,533.
General Motors Financial Company, Inc. is the financial services arm of General Motors.The company is a global provider of auto finance, with operations in the United States, Latin America, Canada, Europe (which was sold to PSA Groupe and BNP Paribas following the sale of GM's core area businesses Opel and Vauxhall in a $2.2 billion deal), and China.
Vehicle leasing is the leasing (or the use) of a motor vehicle for a fixed period of time at an agreed amount of money for the lease. It is commonly offered by dealers as an alternative to vehicle purchase but is widely used by businesses as a method of acquiring (or having the use of) vehicles for business, without the usually needed cash outlay.
Denali is a nameplate used by GMC for its highest trim level on its vehicles. Vehicles with the Denali trim option carry list prices up to 47% higher than base models. Prices range from $38,600 for GMC Terrain to $109,410 for a top-of-the-line Yukon XL Denali Ultimate (as of 2023).
As mentioned, a customer can buy out of their lease at any time, avoiding these fees. However, after the first 90 days of our $1,200 purchase example, the lease service cost jumps from $75 to $977.50.
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