What is a disadvantage of leasing a car?

Leasing a car typically involves meeting specific requirements set by the leasing company, such as credit score thresholds and income levels. These requirements can limit access for some individuals who may not meet the criteria, making it a disadvantage for potential lessees. This contrasts with purchasing a vehicle, where ownership is generally more accessible, as long as the buyer can secure financing.

Immediate ownership is not associated with leasing, as lessees do not own the vehicle, while no record-keeping is not a disadvantage specifically tied to leasing; record-keeping is generally required for any financial transactions, including leasing. Additionally, higher costs for modifications are a concern mainly for lessees, but it directly reflects on their options rather than being a fundamental disadvantage of leasing itself. The requirement to meet specific standards ultimately makes leasing less flexible and potentially more challenging for some consumers compared to buying a vehicle outright.