If you are in the market for a new vehicle, like a new Chevy Bolt, and have questions about leasing, the finance experts at Tom Gill Chevy are here to help. What does leasing a car involve and why is it beneficial? Depending on your driving habits, leasing can be a cost-effective option for your next car. Learn how to lease a car with these simple steps.
Leasing a vehicle is essentially the same as renting a car for an extended period of time. Monthly lease payments are typically less than what they would be if the vehicle was financed traditionally, however there are mileage limits and fees for excess wear and tear. One other aspect to keep in mind is that when you lease, you typically are not able to customize your vehicle because it will eventually be returned to the dealership.
Ideally, you want to lease your vehicle for no longer than three years, so you can be sure that it will still be covered under the original bumper-to-bumper warranty. Some people opt to lease their vehicle longer to reduce monthly payments, but this can be risky and you may have to invest money in a vehicle that you aren’t going to own.
Other important notes on leasing:
Before you shop, be sure to estimate your payments so you know exactly what you can afford. Tom Gill Chevy makes it easy to calculate what your monthly payments could be, which simplifies the shopping process. You can also check for manufacturer lease specials for additional savings/ learn how to refinance an auto loan, or about a car lease buyout.