Things to know before leasing a car
Not everyone wants to commit to a new car for the long term, which is OK because leasing a car, truck, or SUV in Alaska, Oregon, or Idaho might be a better route for some than others. But we understand not everyone is entirely sure how it works. If you want to know if leasing a car is right for you, let’s examine how it works so you can make the best decision for you and your budget.
Who owns the vehicle?
You never own the car during the term of the lease. This is the biggest difference between financing or buying a car outright and leasing new cars. The car you’re leasing is still owned by the dealership from which you’re leasing, and you’ll return it to the car dealership when the term of the lease is complete. This gives you the option to upgrade to a new car every couple of years or so.
Understand your yearly mileage
Lease agreements come with a mileage allotment for each year of the term of your lease. It’s a good idea to have a general idea of the number of miles you put on your current car before you sign a lease agreement. If you go over the number of miles allotted in your lease agreement, you could accrue charges of 10 to 30 cents per mile (depending on the agreement). The mileage agreement can be negotiated, but it’s better to shoot high and come in under the target than aim low and go over the mark.
Take care of your lease
There’s a stereotypical mindset that comes with renting cars. Sometimes people like to think that they can drive a rented car hard for a week because they won’t be driving it still the next week. This doesn’t apply with a lease. There are wear and tear guidelines that come with a lease agreement and excessive wear on the car could cost you extra when you return it. This is incentive to take care of and keep your car looking nice.
Advantages to leasing
Finally, there are pros and cons to everything, so let’s look at the advantages of leasing a from Kendall Automotive Group. Leasing a new car, truck, or SUV is cheaper in the end than buying it outright or financing, because you’re paying only a percentage of the total price. You also don’t have to worry about trading it in for a good price or finding a buyer when you’re done, because your local Kendall dealership is guaranteed to take it back from you.
If you like to have the latest and greatest gadgets and amenities in your car, leasing may be your best bet, because you can easily upgrade to drive the latest models each year. You may also be able to drive a nicer car than you could normally afford to buy or finance.
To learn more about our lease deals near Anchorage and Fairbanks, Alaska, Eugene and Ben, Oregon, and Meridian and Nampa, Idaho. Contact us at your nearby Kendall Finance Center at Kendall Automotive Group today. Be sure to shop offers and incentives with Kendall Automotive Group to find out how you can save on a lease.