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Leasing is a method of paying for the use of a car, truck, SUV, or van over a specified period of time. Sounds like renting, but don't get the two confused because they are very different. Where you can rent a car for as little as a day, or even a few hours, this mode typically starts at leasing duration of 24 months.This process is also called as hire purchase. Signing a leasing contract means you make a down payment and agree to pay in regular monthly installments, keep appropriate insurance, pay any vehicle taxes and licensing fees, and take good care of the vehicle.
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