Word: inkley
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Dates: during 1980-1989
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When Carol Inkley went shopping for a new car earlier this year, she faced a supply-side problem: a pending divorce had left her with little to spend and nothing to trade in. Inkley, a Chesterfield, Mo., interior-design coordinator, solved her dilemma by signing a four-year auto lease that avoided the hefty down payment a normal car loan would have required. Cost of the lease: $239.04 a month. She drove home in a new white Honda CRX complete with automatic transmission, air conditioning and AM-FM radio...
Taking a cue from Corporate America, more and more people these days are shopping for cars the same way that Inkley did. For decades automobile leasing has been popular among firms anxious to protect their cash flow and capital from the kind of rapid depreciation that car-fleet ownership entails. Now individual consumers are taking up the same practice for roughly similar reasons. Last year, according to the American Automotive Leasing Association (A.A.L.A.), a lobbying group, individual customers leased nearly 2 million of the 11.4 million new cars delivered in the U.S., a record. That 17% market share compares with...