Leasing a car has just become a bit more difficult. Several companies, including those that handle leases for Chrysler, Ford and General Motors brands have either cut back or eliminated their auto leasing programs. Chrysler LLC, which sells Chrysler, Dodge and Jeep brands, discontinues its leasing programs through its lender Chrysler Financial as well as Chase Auto Finance as of July 31, 2008.
There are still some great cars that can be leased including the 2008 BMW 5 Series, which has special car financing offers until September 1, 2008.
The captive finance companies that handle leases for Ford Motor Company and General Motors have both decided to cut back on their car leases as well. The auto finance arm of Wells Fargo has also discontinued its leasing program. For car shoppers, this means it will be harder to lease a car and there will be fewer car leasing incentives offered.
All of the companies indicated the decision to cut back or eliminate car lease programs was due to declining used car values, a drop in consumer demand or both. Many car shoppers prefer to lease a car because of lower monthly payments than if they purchased the car. NADAguides.com discusses the advantages and disadvantages to car leasing, so shoppers can consider their options carefully before making a decision.