|
WHO OWNS IT
The only way you fully own your vehicle is if you pay cash for it. If
you're financing it, you'll have to meet the obligations the lender requires,
like a certain down payment amount and timely monthly payments. If you don't,
they have the right to repossess it.
|
WHO OWNS IT
You do not own the car when you lease. You're paying for the use of
the vehicle, but the finance institution that you leased it through actually
owns it. This is usually why you pay less per month in a lease than if you
were to buy the car.
|
|
UP-FRONT COSTS
If you're financing it, the bank will probably request a down
payment. You can also trade-in another vehicle and use any equity towards
your down payment. The amount of the down payment is usually based on the
lender's requirements and your credit score.
|
UP-FRONT COSTS
Leases often do not require any type of a down payment. All you
usually have to pay is the first month's payment, a security deposit, the
acquisition fee and other fees and taxes. But, as with a purchase, if you
want to lower your monthly payments you can always pay more upfront.
|
|
FUTURE VALUE
Your vehicle will be worth whatever you can sell it for in the future
and that depends on how well you maintain it. (Be smart and protect your
investment with regular scheduled maintenance by a factory-authorized
facility!)
|
FUTURE VALUE
In most leases you don't end up owning it so you don't end up selling
it. That's the financial institution's job. Although you may have mileage
limits and wear and tear guidelines that, if you exceed them, could cost you
extra money when you turn your vehicle back in.
|
|
END OF PAYMENTS
Once you've paid off what you owe on your contract, that's it. Your
vehicle is 100% yours. The lending institution will send you a Lien Release
as proof that the vehicle is completely paid off and all yours.
|
END OF PAYMENTS
Most people return the vehicle at the end of the lease term. But some
like to purchase it during their lease or at the end. Others like to trade it
in before their lease is over. Just ask us about these different options
before signing any paperwork and we'll make sure you have your lease set up
the way you want it.
|
|
|
BEST
CARS TO LEASE
The best cars to lease are those with the best book
value after the term of the lease. Since they depreciate less, you pay less.
Review the lease ratings to see which cars retain their value.
|
