When it comes to getting a new car, many people think they know all the options—buying is the “traditional” route, and leasing is often misunderstood or avoided. If you’ve ever considered leasing a car, you’re probably aware of the myths that surround it. But what if we told you that leasing isn’t the mystery some make it out to be? In fact, leasing can be an excellent option for many drivers looking for flexibility, affordability, and a more enjoyable experience behind the wheel. 

Whether you’re a first-time lessee, trying to decide between leasing and buying, or simply looking to upgrade without a long-term commitment, clearing up these common misconceptions can help you make a more informed decision. Let’s dive into the top five myths surrounding car leasing and see why it could be the right choice for you. 

Myth 1: Leasing a Car Never Makes Financial Sense 

One of the biggest myths about leasing is that it’s just “throwing money away.” Some people believe that by leasing, they’re paying for a car that they’ll never own and that this is always more expensive than buying.  

The reality? Leasing can be surprisingly cost-effective, especially for people who like driving newer models without a huge upfront investment.  

When you buy a car, you’re typically looking at a hefty down payment and higher monthly payments. Plus, there’s the depreciation factor—your car starts losing value the moment you drive it off the lot. But with leasing, you’re only paying for the portion of the car’s value that you’ll use during the lease term. This results in lower monthly payments and often a more predictable financial commitment. 

Myth 2: You Have to Return the Car at the End of the Lease 

There’s a common belief that leasing a car means you’ll be left empty-handed once the lease term ends, which isn’t true. While returning the car at the end of the lease is the default option, many leases give you the option to buy the car outright or extend the lease. 

If you’ve grown attached to your car or find that it’s still running like new, you can buy it at the end of the lease for a predetermined price. This price is often much lower than its original market value. Alternatively, you might be able to extend the lease and keep enjoying the car for a few more years. If you’re not sure whether or not to go for a buyout at lease end, Car and Driver has an excellent guide on what to consider. 

Myth 3: It’s Impossible to Get Out of a Lease 

Many people view leasing as a contract that you’re locked into for the entire term, with no way out, but that’s not the case. Life changes, and sometimes you need to adjust your car situation. Whether you want to switch cars early, buy out the lease, or get out of the lease while capturing the vehicle’s value, there are plenty of options to terminate a lease early. 

Working with a CLS auto broker means you’re never alone in navigating these kinds of decisions. We make the leasing process smoother, even if you need to exit the lease before it’s up. 

Myth 4: You Have to Lease a New Car 

Many people, especially those leasing for the first time, assume that leasing is only an option for brand-new cars. In reality, leasing isn’t limited to just new vehicles, and pre-owned leasing is an increasingly popular choice. 

Leasing a pre-owned car can offer all the benefits of a new car lease—such as low monthly payments and the ability to drive a vehicle with minimal long-term commitment—while also allowing you to access a more affordable vehicle. Pre-owned leases typically have lower monthly payments because you’re financing a car that’s already depreciated, which makes it an attractive option for those who want to save money. 

Leasing a pre-owned vehicle can still get you behind the wheel of a well-maintained, low-mileage car without the steep depreciation hit that comes with a new car. Plus, it’s a flexible solution for those who might not want to commit to owning a vehicle long-term. 

With the right leasing terms, you can drive a quality vehicle without paying the higher price tag of a new model, and still enjoy a manageable lease term. Whether you’re looking for a vehicle that’s only a few years old or something a bit older, a pre-owned lease can give you the best of both worlds—affordability and flexibility. 

Myth 5: You Need Excellent Credit to Lease 

Leasing has earned a reputation as being reserved for those with pristine credit. While good credit can help secure favorable lease terms, it’s not required. The truth is, many people with less-than-perfect credit can still lease a car, especially if they work with an experienced auto broker. 

Auto brokers have access to a wide variety of leasing options and can help tailor a deal that works for your credit profile. Plus, if your credit isn’t quite where you want it to be, a broker can help you find ways to improve your creditworthiness or negotiate terms that are more accommodating to your financial situation. 

Leasing isn’t an “all or nothing” proposition. With the right help, you can find the lease that fits your budget and credit. 

Get Help Deciding if Leasing a Car is a Good Idea  

Leasing a car doesn’t have to be as complicated or restrictive as these myths make it seem. Whether you’re driving a brand-new car or a certified pre-owned vehicle, leasing offers flexibility, affordability, and a way to drive the car you want without the long-term commitment of ownership. The myths around leasing are often based on misunderstandings, but now that you know the facts, you can make an informed decision that works for you. 

If you’re considering leasing for the first time or just want to explore your options further, we’re here to help. At Centennial Leasing & Sales, we make the leasing process simple and straightforward—without the pressure of a dealership. Reach out today to learn more about how leasing could work for you. Whether you’re ready to lease your next car or still have questions, we’ve got you covered.