Getting your new car is a big step, especially if you haven't done it before. So we have put together a guide to all the ins and outs of the leasing process.
Things to Know Before You Lease
What is a Lease?
- A lease is a payment program where you only pay for the depreciation of your car for the length of time you have it.Â
- Generally, leases range from 2 - 5 years.Â
- You have a set number of miles that you are allotted each year. (Around 10,000 miles a year)
- Leases are only on new cars.
- You can buy the car once the lease ends.Â
- You will probably still need a down payment.
- You will be responsible for any major wear and tear that happens to your car. (But don't sweat the small stuff, we know life happens.)
Should You Lease or Buy?
Why Lease Instead of Buy?
- Monthly Payments tend to be much lower for leases vs a purchase.
- You are not locked into your car for the foreseeable future. You can get a different car every few years.
- Enjoy the latest Safety Features and Technology that the auto industry has to offer.
- New Cars are more reliable then Used cars and come with Warranty's so your maintenance costs will be substantially lower.
Ending Your Lease
What Do I Do When My Lease Ends?
- Contact your dealer to discuss your options
- Decide if you want to:Â return your lease & get a new one, return your lease & walk away, or buy your current car.
- Check for any bigger damages - if you want to get them fixed or leave them and know there will be a fee for excess wear and use.
- Check to see if you've gone over your miles.
- Clean out your car
- Set an appointment to turn it in
- Begin your next new adventure!
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Contact
Larry H. Miller Ford Provo
1995 North University Parkway
Provo, UT 84604
- Sales: 866-717-6166
- Service: 866-758-1797
- Parts: 866-692-1256