Especially trying is buying a new car. Low inventories and the cost of a loan can bring a shopper to tears.
Well, here's an idea: How about leasing a vehicle?
The car shopping website Edmunds.com has found leasing deals for November for cars and SUVs that come in at around $199 per month.
The impossible dream?
Ever wanted an SUV but thought you couldn't afford it? A lease could make it happen.
According to Edmunds, a 2022 Buick Encore GX, which carries an MSRP of $27,095, can be leased for 24 months at a cost of $189 per month. A down payment of $3,889 is due at signing.
The offer expires on December 1, 2022, and is available in Connecticut, the District of Columbia, Delaware, Massachusetts, Maryland, Maine, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, and Vermont.
The Chevrolet Trax, a small SUV, has similar terms. It's $199 a month for 24 months with $3.429 due at signing.
A complete list of lower-priced auto leases may be found here.
Know what you're in for
A few caveats are in order. For one thing, leasing may require a bigger down payment than a purchase, you have to have a good credit score to qualify and you have to act before the end of the month if you want to take advantage of these offers.
Keep in mind that you're limited in the number of miles you can drive during the lease period. Exceed that and you'll end up paying more for the lease.
There also may be charges that don't show up in the advertised price but only in the fine print-- things like acquisition and lease-end disposition fees. These are legitimate items and could change the bottom line of your lease price.
And here's a tip from Edmunds: Be sure to check with the dealer as you may be able to find special deals that are not always advertised.