Car leasing is nothing more than a method of paying for the use of a car, truck, MPV, or van over a specified period of time. Sounds like renting, but don't get the two confused because they are very different. While you can rent a car for as little as a day, or even a few hours, leasing typically starts at 24 months and doesn't provide for easy termination or vehicle swapping.
Price is important in leasing
We have negotiated the best prices we can to ensure that the monthly rental cost is as low as it can be.
The dealer or our company is not the leasing company
The car dealer and our company simply acts as an agent for the leasing company so that you don't deal directly with the leasing company until you start to make monthly payments.
So, automobile dealers are in the business of providing automobiles; leasing companies, banks, and credit companies provide leases.
You can find your own leasing company
As a leasing consumer, you have the option to shop for your own leasing broker like us. These independent companies can often arrange to get you an even better price due to fleet purchasing arrangements. The tradeoff is that dealers make it very convenient to arrange for both the vehicle and the lease all in a single meeting, and the dealer's captive leasing company can often offer special lease terms to help the dealer move vehicles.
What it means to lease
Signing a leasing contract means that you agree to make regular monthly payments, keep appropriate insurance and take good care of the vehicle. Further, you agree that you'll keep the car for a specified number of months — typically 24, 36, or 48 months — and you're expected to stick it out to the end.
At the end of your lease
At the end of the lease you're expected to return your vehicle to the leasing company with no more than normal wear and tear. You'll have to pay for any damage or extra mileage over and above your contract-specified limits.
You may have an option to purchase your vehicle at lease-end for a specified price, if you choose. Or you may be able to use the car as a trade-in on a new car. Otherwise, you can simply return the vehicle to the leasing company and walk away.
More information on Personal Car Leasing.
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