Leasing FAQ Ballwin MO

First and foremost, you'll have lower monthly payments when you lease as opposed to taking out a loan. Second, leasing usually lowers maintenance costs because most leased vehicles are new and still under warranty. Third, leasing lets you get a new car every few years, as well as luxury or sports cars that might have otherwise been out of your price range.

Absolutely. You can negotiate the length of the contract, mileage limitations, and the potential costs of fees, among other things before you sign. As an example, it may cost more to raise the number of allotted miles, but you can probably save some money by agreeing to a longer lease term.

There are a few terms to keep in mind when considering a lease:

• Money Factor: an interest rate on the money that's being used to finance a lease. It's much like a car loan interest rate, and it's helpful for comparing lease offers.
• Buyout Price: the cost to the lessee to buy the car at the end of the lease. Most dealerships include this option in your contract.
• Disposition Fee: the car needs to be cleaned and refurbished when your lease ends, which is what this fee covers.
• Due at Signing: exactly what it sounds like; the amount you must pay when you sign a lease. It's a deposit or down payment on the lease.