Net loan and lease balances declined 1.3% and all major loan categories showed reduced balances.

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Sageworks, a financial information company, collects and analyzes data on the performance of privately held companies and provides allowance for loan and lease losses solutions to the banking industry.

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However, depending on your type of lease, when your lease term is up, you either hand the keys over to the car dealership and look for another vehicle, or finance the remaining value of the vehicle and go from making lease payments to loan payments.

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If you drive a great deal during the year, consider instead a loan or an open-end lease (which we discuss below).

FORBES: New Wheels: Lease Or Buy?

Those who learn how to manage money during this time will learn to build the savings required to make a down payment on a future home, buy cars without the help of a lease or high-interest loan and eventually afford the joys that real financial freedom offers, such as frequent vacations or early retirement.

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