Vehicle Lease Agreements

Lease your dream vehicle without having to pay it off. With rental agreements, you pay for the depreciation of the vehicle while you use it.

Rental Agreement:

When you opt for car leasing, you enter into a contractual agreement with the dealership. This agreement delineates various terms and conditions, including:

Lease Term:

The duration of the lease, typically spanning 2 to 4 years.

Mileage Limits:

The annual mileage allowance permitted during the lease term.

Total Mileage:

The maximum cumulative mileage permitted over the lease period.

Maintenance Responsibilities:

Guidelines outlining your responsibilities for maintaining the vehicle.

Monthly Payments:

Calculated akin to car loan payments, covering the vehicle's depreciation over the lease duration.

Penalties:

Consequences for exceeding mileage or wear-and-tear limits as stipulated in the agreement.

Options at Lease End:

Choices available upon the conclusion of the lease term.

Monthly Payments:

Regular monthly payments are remitted to the dealership, covering the vehicle's depreciation during the lease period.

No Ownership:

At the lease term's end, ownership of the car does not transfer to you. Instead, you return the vehicle to the dealership.

Pros of Rental Agreements:

Newer Vehicles:

Leasing affords you the opportunity to drive a new or newer vehicle every few years.

Lower Monthly Payments:

Lease payments may be lower compared to financing a vehicle purchase.

Smaller Down Payment:

Qualifying for a lease often necessitates a smaller initial down payment in comparison to a car loan.

Purchase Option:

Certain leases may offer the option to purchase the vehicle at the conclusion of the lease term.

It's essential to bear in mind that leasing constitutes a temporary arrangement, and comprehending the terms and restrictions is imperative before committing to a lease agreement.