You’ve Got Car Lease Questions: We Have Answers

Leasing a car seems basic on paper—after all, you’re essentially renting a car for a fixed lease term that can range anywhere from 12 – 36 months. However, you’ll find a lot of intricacies in the process that aren’t common knowledge. Plus, if it’s your first time leasing a car, you’ll undoubtedly have questions—which is fine because we have answers, which we’ll cover today. Ready to start a lease now? Head to Motor City Chrysler Dodge Jeep RAM today to speak with one of our finance center experts.

Should I Buy or Lease My Next Car?

The big question you’re likely asking right now—and while there’s not a technical right answer, you’ll find one option is better based on your budget, driving style, and tastes. For example, do you drive a low weekly number of miles (or you can stick to a mileage limit if needed)? Want to keep up with the newest tech and performance? Interested in low monthly payments? If you answer yes to all the above, then a lease is a good consideration for you since the terms are typically short and low commitment, allowing you to constantly drive new vehicles while keeping costs low.

How Much Do You Pay for a Lease?

While there’s no standard answer for a lease price, this financial option typically factors in a vehicle’s residual value, the current MSRP, your down payment, depreciation, etc. However, keep in mind that leases are almost always cheaper than a full loan for the same vehicle when it comes to monthly lease payments, interest rates, and more—but for more specifics, speak with one of our financial experts.

What If I LOVE My Leased Car…Can I Buy It?

Definitely. Even better, you won’t need to technically pay full price since you’ve already leased the car—instead, you’ll pay the residual value. If you’re wanting to fully purchase the car you leased now, speak with one of our team members today to see what you need to do next.

Can I Still Lease a Car…Even with a Bad Credit Score?

Thankfully, you won’t need stellar credit to lease your next car. Stop by Motor City Chrysler Dodge Jeep RAM, we’ll work our hardest to get you approved for the best auto lease deals regardless of your credit. For more details specific to your situation, speak with one of our finance department specialists.

Do I Still Need to Pay for Maintenance on My Leased Car?

Most of your repairs will still fall under manufacturer warranty since you’ll often lease vehicles from recent model years—so a lot of the time, you won’t need to pay. However, keep in mind that maintenance like filter changes and tune-ups will usually require a payment from you. Thankfully though, most expensive auto repairs won’t happen within the first three years of ownership—especially if you keep the miles you drive low.

Can I Find High-Quality Cars, Trucks, and SUVs to Lease?

Of course—visit us today at Motor City Chrysler Dodge Jeep RAM and we’ll walk you through our extensive inventory of leasable heavy-duty trucks, fast cars, efficient commuters, and adventure-ready SUVs. While you’re here, feel free to ask any questions as well since your needs always come first to us.