The five drawbacks of car leasing are:
- Limited mileage: Most car lease agreements come with a limited mileage, which means that you may have to pay additional fees if you exceed the allowed mileage.
- Wear and tear charges: You may be charged additional fees for any damage to the car beyond normal wear and tear.
- No ownership: Leasing a car means that you won't own the car at the end of the lease term, which can be a disadvantage if you prefer to own your car.
- Early termination fees: If you decide to terminate the lease early, you may have to pay additional fees.
- Higher insurance rates: Car leasing may result in higher insurance rates than purchasing a car, as the leasing company may require you to have higher insurance coverage.