When shopping for a vehicle, one might assume that they only have two options: buying new, or buying used. However, there’s a third option out there for those who desire a new ride but may not want to pay a large amount to get it. That option is called leasing.
“When you lease a car, you pay monthly to drive a vehicle. At the end of the lease agreement, you return the vehicle to the dealership,” explains Car and Driver. “Unlike when you buy a car, you don’t own a leased vehicle. Essentially, car leasing is renting a car for a short or long period.” Typically, these leases last between 24 and 36 months.
While this may be common knowledge for some, it was new information for many of the viewers of a recent TikTok from user Brooke (@blonde.barbie.101) with over 1.5 million views.
Long-term Tesla car lease
In her video, Brooke can be seen peeling off some custom decals from the Tesla. These decals include pink modifications to the Tesla logo on front of the car, as well as similar decals on the door handles.
“When the lease ends soon,” she writes in the text overlaying the video. In the caption, she adds, “Actually surprised the pink lasted 3 years.”
Immediately, commenters shared their confusion about the concept of leasing a car.
“Wait whattt?? U can lease a car? I’m so confused is it the same thing as financing it? If u return it back to them isn’t that just a waste of money because ur not renting to own?” asked a highly-favorited comment.
“Being in car sales im shocked at how many ppl don’t know about leasing a car!!” exclaimed a second.
These users aren’t alone. One user on TikTok sparked discussion after revealing that he had been paying for a car lease for years with the incorrect idea that he would own the car at the end of his payments.
@blonde.barbie.101 Actually surprised the pink lasted 3 years 🤣 #bye ♬ original sound – Raihann
Commenters continue the car lease discussion
Other commenters chimed in with their own stories of car leases, with the general response being that, while leasing is fine, it depends on many particulars about one’s situation.
“My dad has always leased a car through his company. Gets a new bmw every 3 years and never has to pay for gas as the company pays it all,” said a user.
“I should’ve never leased and just purchased my car out like i originally wanted to,” detailed another.
“Leasing is really great for building credit but I drive SO MUCH, I could never stay within the mileage honestly,” offered a third, referring to the mileage limits that are frequently placed on lease agreements.
The Daily Dot reached out to Brooke via email and TikTok DM.
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