Auto Leasing: Frequently Asked Questions

When it comes to financing a vehicle, it can be challenging to know all your options and how exactly it works. Auto financing can be a time-consuming, complicated process, but when you finance with us, you will discover a new sense of transparency and ease.

At C&C Dodge Chrysler Jeep Ram Toyota in Marietta, OH, we are here to help demystify auto leasing and create more clarity for you. By answering the most common lease-related questions, we hope to give you the confidence you need to find the perfect lease for you. Browse the lease-related questions below to find the answers that you need. If you don't find what you're looking for, our automotive professionals would be happy to help.

Frequently Asked Lease Questions

What's the Difference Between a New Car Lease and Loan?

When you lease a vehicle, you make payments for the duration of your term, but you don't own the vehicle. A loan is different since it helps you purchase the vehicle. Leasing allows you to enjoy lower monthly payments since the primary cost of leasing is the depreciation of the vehicle during your term. While you won't own the vehicle, you will have more flexibility in your budget and the opportunity to drive the latest models every few years.

How Do New Car Leases Work?

Leasing a new car is similar to renting a living space around Parkersburg, WV. You, the lessee, have an agreement with the lessor, to use the vehicle for a pre-determined amount of time. Most leased vehicles include an agreement about how many miles you can drive each year without incurring additional fees, as well as returning the vehicle in a suitable condition and maintaining it.

The title of the vehicle is kept by the leasing company, and you will have no ownership interested in the vehicle. With each lease being a little different, be sure that you know what a lease requires of you.

How are Leases Calculated?

The sales tax, the amount you pay to lease the vehicle, and the depreciation all play a part in how lease payments are calculated. Understanding the net capitalized cost, residual value, and depreciation can make what exactly is being calculated clearer.

What Are My Options When the Lease Ends?

About 90 days before a lease ends, our dealership contacts drivers in the Vienna, WV, area to prepare for the next steps. The first option is to simply walk away from the lease. You pay any final fees and return the car without any obligations. The second option is to purchase the vehicle, which allows you to avoid fees and, often, the sales tax.

What is Lease Equity?

Lease equity is when your vehicle is worth more at the end of the lease than the buyout that was agreed upon when the lease began.

What are Lease Termination Charges?

If you end a lease early, you can expect termination charges to cover the cost of ending the lease and for the lender to find a different lessee.

What are Lease Mileage Charges?

The amount you drive affects the condition and depreciation of the vehicle, so lenders set annual mileage limits for accurate lease payments. If drivers in the Athens, OH, area exceed the mileage limit, they will usually be charged between 10 to 30 cents for each additional mile over the limit.

Do I Need to Turn My Lease in at the Store I Leased it Through?

You should be able to return your leased vehicle to any dealership with the same brand in the Harrisville, WV, area. However, some dealers may not want to take on an extra piece of inventory they weren't expecting. For the smoothest experience, return your leased vehicle to us.

Have More Questions?

If you have more questions that weren't already covered, our team of automotive professionals is happy to help. Contact us today to learn more about leasing with us!