What is the definition of car leasing?

If you are looking for a car, there are several financing options. You can buy a new or used car, but you can also opt for leasing. Leasing is much like renting a car; you enter into a contract with a leasing company that provides you with a car for an agreed period and price. This is a great option for business owners, private individuals and self-employed workers. You pay a fixed monthly rate to the leasing company according to your lease contract. This way, you are basically renting te car, while the leasing company retains ownership.