The word ‘lease’ often brings negative associations to the minds of most people; you’re paying for something that will never actually be yours. But while that may be true, there are a lot of positive aspects to leasing a car too. There’s pretty much no other way to drive around in a brand-spanking-new car without paying under warranty and avoiding most costs associated with repairs.

Ok, if you’re not already at least considering leasing, then there’s nothing else that’ll convince you. The thought of driving around in a large, fully-equipped, make-your-mom-cry-because-she’s-worried-about-your-safety car is the number one reason to think about leasing. When you lease, you can get a larger, more luxurious, better-equipped car than you could if you were buying, because dealerships prefer to lease. The customer loyalty rate is three times stronger with leasers than it is with buyers, meaning if you’re leasing a car, you’re likely to come back when the lease is up and either lease it again, or lease another car.

So, now that you’re thinking about leasing, let’s explain it a little further.

Leasing is, in principle, a lot like renting. You pay for the use of a car for a specific amount of time, usually two or three years. Then you simply return the car, and though you don’t owe any money on it, you also don’t own the car and are required to turn it back in good condition.

It’s important to shop around for a good lease just as you would shop around as if you were actually purchasing a car. Compare costs for identical vehicles and research how to negotiate leases.

While leasing is less of a commitment than purchasing is, people often take the decision that much less seriously. Don’t. Be sure that this is a monumental decision and takes just as much planning as any other major life purchase.