Automotive leasing options reduced by Big Three U.S. manufacturers
Chrysler, Ford and GM have recently made announcement about their auto-leasing businesses. Chrysler will no longer offer leases through Chrysler Financial as of August 1. Ford is limiting truck and SUV leases. GM is tightening its rules for leases. These moves are a reaction to the credit crisis and the plummeting resale values of trucks, SUVs, and other gas guzzlers. Does this mean that leasing is going away? No. Leasing is still available through other financing companies including some credit unions. Most experts, however, think that leasing terms will tighten and costs may rise. If you are considering leasing, be sure to check first with your credit union and follow the guidelines in our Car Buying Guide.
Read an overview of leasing news from July 30 from CNNMoney.com