Vehicle Leasing FAQs
If you are in the market for a new vehicle, you have a variety of options available to you. If you like to have the latest technology, don’t have a vehicle to trade in or don’t have a large down payment saved up, leasing a vehicle might be the best option for you! But how can you be sure? Check out these common questions that people have about leasing a vehicle and our answers to them right here!
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Car lease Frequently Asked Questions
Why should I lease a vehicle?
Most people who lease tend to enjoy lower monthly payments than when they buy a vehicle outright. There also tends to be more warranty coverage that lasts the entire term of the lease, leading to lower repair costs for lessees, as well as the opportunity to continually drive the newest, most up-to-date models without having to stress about buying and selling a new vehicle every couple of years.
How does a lease work?
Leasing a car is essentially like borrowing the car for a fixed amount of time, at the end of which the vehicle is returned to the dealership. Lessees still pay an interest rate on the vehicle and generally keep the vehicle for two to five years. People who like to have all the latest technology available, who typically don’t have long daily commutes and first-time car buyers who don’t have a vehicle to trade in or don’t have a large down payment saved up are all great candidates to lease a vehicle.
How many miles can I drive per year?
This number varies with the vehicle you choose, but is usually between 10,000-15,000 miles.
How do I return my leased vehicle?
At the end of your leasing period, you have a few options. You can buy the leased vehicle from the dealership, trade it in for a new lease, or return the vehicle. To return your leased vehicle, simply bring it to the dealership at the end of your lease agreement.
If you would like to learn more about the benefits of leasing a vehicle, you can contact a member of our sales team here at Palmen GM! They would be happy to answer any additional questions you may have about any of the vehicles on our lot.
