Leasing
Is Leasing right for you?
If you answer "YES" to any of the following... it is!
- Would you like to have the future value of your car guaranteed to you?
- Do you trade in your vehicles every 3 to 5 years?
- Do you prefer choices over obligations?
- Do you prefer lower monthly payments?
- Do you prefer lower or no money down?
- Do you like driving newer cars for their safety, dependability and economy?
- Do you like driving newer cars to have warranty?
- Do you like driving more car, or a new car more often?
- Do you like paying less tax?
LEASING Q&A
WHY PAY FOR SOMETHING YOU DON'T USE?
Instead of paying for the whole value of the vehicle and the taxes on the whole value of the vehicle, leasing allows you to pay for only the portion of the vehicle you are going to use. Simply stated? If a vehicle has a life span of 18 years, buy you typically only use a vehicle for 4 years, why pay for 18 years, plus taxes, plus interest on the vehicle, when you only need to pay for the portion of the vehicle's life that you are going to consume. The 4 years, for example.
LEASING IS RIGHT FOR MORE PEOPLE THAN YOU MAY THINK?
For those who have never leased a car, leases can seem confusing, complicated and geared more toward business owners (who might deduct the expense) or, for individuals who simply can't afford car payments. But these perceptions may be outdated. Before eliminating leasing as a financing option, car buyers need a solid understanding of the different purchasing processes. Eastern Chrysler Dodge Jeep Ram is happy to help you with understanding leasing.
WOULD YOU LIKE YOUR FUTURE TRADE IN VALUE GUARANTEED?
Leasing pre-calculates the future value of your vehicle with a residual, or "buy out". Your value, at the end of your 36, 48, or 60 month lease is guaranteed. Simply, you make your lease payments, and at the end of the lease, there is no uncertainty of market conditions and resale of your vehicle. There are many conditions that can affect the value of your vehicle. For example, if your vehicle gets into an accident and gets repaired, you will be asked to declare such conditions when trading in your vehicle. This could affect value. With a lease, you still declare the accident, but at maturity of the lease, there are no value adjustments for such a condition.
LOWER MONTHLY PAYMENTS?
Because you only pay for the portion of the car or truck that you actually use, your monthly lease payments are typically lower than for a purchase loan for the same car and same term.
LOWER OR NO DOWN PAYMENT?
Vehicle leasing provides the option of making no down payment, you simply start with your first month's payment and a lease fee may be involved. Lower down payment frees up your liquid cash and or available credit for other things.
MORE CAR, MORE OFTEN?
Since monthly lease payments are lower than with buying, you can get more car for your money and/or drive a new vehicle every three to five years, depending on the term length of your lease.
LESS MAINTENCE EXPENSES?
Most people like to lease for a term that coincides close to the length of the manufacturer's warranty coverage so that if something goes wrong with the car, the repairs are covered more often. With a lease, while you will still perform regular maintence, you get to enjoy the vehicle when it is newer, and before it will need costly maintenance that can arise with an older, aging and higher kilometer vehicle.
PAY LESS TAXES?
When you purchase a vehicle, you pay for the vehicle and the tax on the whole purchase price of the vehicle, plus interest, if financed. On a lease, there are no up-front taxes. You're only taxed on the portion of the value that you use during your lease. In other words, you pay tax only on the value of your monthly payment, as you make the payment. If you do elect to put some money down, you would pay tax on that, at the time you make that payment.
NO USED CAR HASSLES?
With leasing, the headaches of selling a used car are eliminated. When your lease ends, you simply turn it back to the leasing company and walk away, unless you decide to buy it or trade it.
WHAT ARE SOME OF MY OPTIONS AT THE END OF THE LEASE?
1. Return the vehicle;Drop off the keys, and buy or lease another vehicle
2. Buy the vehicle out for the residual amount, plus safety, taxes and fees
3. If there is equity in the vehicle (it's worth more than the residual),
apply that to your next purchase or lease.
MONTHLY, BI-WEEKLY, or WEEKLY PAYMENTS?
Lease payment can be make monthly, bi-weekly, or weekly.
I HEAR LEASING DOESN'T WORK FOR EVERYONE?
Yes, this is correct; this is why it is important to meet with a sales consultant to discuss your vehicle use and your vehicle needs. A wise consumer will want to explore all purchase options available to take advantage of the financing tool that best suits their needs.
THE CHOICE IS YOURS...
Finally a way to have a Brand New Dodge, Chrysler, Jeep, or Ram With more affordable options and flexibility to the one that counts the most...YOU!
If you would like to set up an appointment for a lease/finance consultation...
See Dealer for complete details. Kilometers/condition restrictions may apply.