Leasing

Few people like to think about that great parking lot in the sky, but every one of us is going to run out of gas sooner or (hopefully) later. Our descendants, heirs or next-of-kin will hopefully arrange for a proper sendoff, but what about the ride sitting in the driveway that we still owe a bundle on? Are descendants obligated to make car payments on leases and loans for cars they don't own and haven't signed any contracts for? We asked key auto industry people to state official policies.

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Car leasing is a lot like renting an apartment; you pay a monthly fee to use it but don't own it -- and aren't making payments toward ownership. The leased vehicle remains the property of the lessor -- the company that issued the lease. As with an apartment rental contract, car leasing will have a fixed period -- typically two or three years. You're obliged to make monthly payments for the length

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NEW YORK (CNNMoney.com) -- Auto leasing is, once again, becoming popular. The number of car leases is up 21 percent compared to last year, according to data from the automotive Web site Edmunds.com."As interest rates rise, leasing is becoming a more attractive option for consumers," said Alex Rosten, Manager of Pricing and Market Analysis at Edmunds.com. "Leasing allows car buyers to have lower mo