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Car leasing shifts gears

by Executive Staff

While many Lebanese can’t afford to pay $80,000 in cash for a brand new luxury car, they will consider spending $12,000 on an initial down payment and $1,000 in monthly interest payments. But for those who dream of luxury driving but can’t afford the car, leasing is making dreams a reality in Lebanon. Leases and common purchase loans offered by car dealerships and banks in Lebanon are two different methods of automobile financing. Leasing is like renting with the option to buy at a reduced price after the lease period ends.                        When a client buys a vehicle with a loan, he pays for it by making a down payment and a monthly interest payment. When a client leases, his payment covers the expense of using the vehicle, along with a finance charge. At the end of the leasing period, clients can either return the car or purchase it for

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