Used Car Leasing Special Offers

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Vehicle leasing is the leasing or the use of a motor vehicle for a fixed period of time at an agreed amount of money for the lease.

It is commonly lease options for used cars by dealers as an alternative to vehicle purchase but is widely used by businesses as a method of acquiring or having the use of vehicles for business, without the usually needed cash outlay.

The key difference in a lease is that after the primary term usually 2, 3 or 4 years the vehicle has to either be returned to the leasing company or purchased for the residual value. Vehicle leasing offers advantages to both buyers and sellers.

For the buyer, lease payments will usually be lower than payments on a car loan would be. Any sales tax is due only on each monthly payment, rather than immediately on the entire purchase price as in the case of a loan. Some consumers may prefer leasing as it allows them to simply return a car and select a new model when the lease expires, allowing a consumer to drive lease options for used cars new vehicle every few years without the responsibility of selling the old vehicle, or possible repair costs after lease options for used cars of the manufacturer's warranty.

A lessee does not have to worry about the future value of the vehicle, while a vehicle owner does. For a business lessor there are tax advantages to be considered. For the seller, leasing generates income from a vehicle the seller or manufacturing corporation still owns and will be able to lease again or sell through vehicle remarketing once the original or primary lease has expired.

As consumers will typically use a leased vehicle for a shorter period of time than one they buy outright, leasing may generate repeat customers more quickly, which lease options for used cars fit into various aspects of a dealer's business model.

Leasing's average retail market penetration rate in the United States lease options for used cars new passenger vehicles reached an all-time record high of As ofleasing accounted for about 25 percent of total vehicle sales or 31 percent retail sales in the United States.

The prevalence of leasing in the United States for GMFord and Chrysler have been rising close to the industry norm since reaching low single digits inbut still lower than BMW and Mercedes-Benz. Leasing is the second-most popular form of consumer new car finance in the UK after personal contract purchase. The overall value of the personal leasing market grew by Lease agreements typically stipulate an early termination fee and limit the number of miles a lessee can drive for passenger cars, a common number is 10, miles per annum though the amount can be stipulated by the customer and can be 12, to 15, miles per year.

If the mileage allowance is exceeded, fees may apply. Dealers will typically allow a lessee to negotiate a higher mileage allowance, for a higher lease payment.

Lease agreements usually specify how much wear on the vehicle is allowable, and the lessee may face a fee if that amount of wear has been exceeded. The actual lease payments are calculated in a very similar way to loan payments, but instead of an APR, the company uses something called the money factor. At the end of a lease's term, the lessee must either return the vehicle to or buy it from the owner.

The end of lease options for used cars price is usually agreed upon when the lease is signed. Typically a leasing company will have a minimum length of lease such as 24 months up-to 60 months. Recently a new view on lease options for used cars is that the market has grown for short term lease called 'flexi-lease'. This is almost the same as van hire but typically involves the finance or leasing company maintaining and being ultimately responsible for the vehicle.

From Wikipedia, the free encyclopedia. This article relies largely or entirely on a single source. Relevant discussion may be found on the talk page. Please help improve this article by introducing citations to additional sources.

PowerMcGraw Hill Financial. Retrieved 24 April Retrieved from " https: Contract law Business law Leasing Vehicle rental. Articles needing additional references from January All articles needing additional references. Views Read Edit View history. This page was last edited on 5 Marchat By using this site, you agree to the Terms of Use and Privacy Policy.

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When it comes to buying or leasing a car the options can be confusing. To help you make an informed decision we have provided the information below. We hope you find it informative and useful. When you buy the new or used car you pay for the entire cost of the vehicle.

When you lease the new or used car, you pay for only a portion of the vehicle's cost, which is the part you use during the time you are driving it. Of course, 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. 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. 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!

Once you've paid off what you owe on your contract, that's it. The lending institution will send you a Lien Release as proof that the vehicle is completely paid off and all yours. 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. 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. 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.

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. 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. Other than responding to this request, please do not send further marketing communications from Shaganappi GM including offers and information on new products and services, as outlined in our privacy statement.