Leasing a New or Pre-Owned Vehicle is made easy at Leasemobile. Here is a brief explanation of what a lease is and how it works: A lease is a contractual agreement between us and the buyer(s) that is for a term of 12-60 Months with a minimal entry downpayment with an aggressive rate. The monthly payment is always lower when you lease due to the residual that is at the end of your term. The residual is the figure that represents the estimated value of the vehicle at the end of the lease. For example, a typical lease would look like this:
2004 Dodge Ram 1500:
Selling Price: $21,900.00
Monthly Payment: $338.00+tax
Term: 60Months
Residual: $8,500.00
At the end of the term you have (3) options:
- Trade your vehicle in and commence in leasing another vehicle. This is the way the lease can work in your favor. You now have your new vehicle at a fraction of the usual payment and after you’ve enjoyed it for the length of the term, you can simply trade it in at the end of the lease and pick out your next vehicle.
- Refinance your residual. A good portion of our clients tend to refinance their residual being the vehicle is still in good running condition and they simply want to keep it. This is always an available option rather than having to turn the vehicle in.
- Pay your residual off. Of course, if you would like to now own the vehicle once the term has ended, you can pay it off with no questions asked.
Please see Leasing vs. Buying for more information
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If you have any questions or comments about our financing and leasing options, please feel free to ask in the inquiry box below and include your phone number or email and we will be sure to get back to you.
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