The lease fee for a vehicle is the monthly lease payment multiplied by the term of the lease.
The cost of leasing a vehicle. The lease fee equals the monthly lease payment multiplied by the lease term. See also capitalized cost and residual value.
One of the major decisions consumers make when car shopping is leasing versus buying. Those with less money for down payments may prefer leasing, as might those who change cars frequently.
Drivers who plan to keep a vehicle longer, and who have a substantial down payment may be better off purchasing.
Both leasing and buying a car come with pros and cons and consumers should compare short and long term costs when deciding between the two.