Get All Your Auto Leasing Questions Answered with Our FAQ
Can leasing provide lower monthly payments?
Quite often, it can. Its possible because payments are based only on the use of the vehicle during the term of lease, and payment does not include the cost to accumulate equity, as they would if you were buying. The result is more cash left over each month to spend as you see fit.
Best of all, lower monthly payments may enable you to afford more vehicle – with all the options you really want.
How much cash do I need up front?
Here is one of the greatest advantages of leasing: there is no down payment required. That saves you a substantial amount of money to use in other ways. Your total initial payment usually consists only of your first month’s lease amount and a small security deposit, plus any license fees.
Is it more difficult to qualify for leasing?
If you have a good credit history and can provide the necessary insurance, chances are that you are a prime candidate for leasing.
What kind of vehicles can be leased?
Any car, van, sport utility, or light truck sold in America is available through Autoporter.
If you are not sure which make and model is best for you, we would be pleased to offer you suggestions.
Autoporter also offers leases on new, used, and reconditioned cars.
What about insurance, taxes, and licensing?
Each is still your responsibility, as if you were buying. However, in many states your monthly lease payment can include sales tax. This helps since the sales tax may be based on the lease payment and not on the entire price of the vehicle.
How often do I make lease payments?
You are billed a set amount each month, for simplified budgeting.
How long should the term of my lease be?
That depends on your annual mileage. Autoporter recommends a lease term that does not exceed 60,000 miles with terms from 2-5 years.
Can a lease be cancelled prior to the end of the term?
Yes, but it might be liable for additional costs, which can vary depending on your contract. If you think you might want to cancel your lease in the future, a shorter lease term may be more advisable for you.
Who pays for maintenance?
Routine maintenance such as oil changes, lubrication, and wheel alignments are your responsibility, just as if you were buying the vehicle.
Keep in mind that because you generally keep your car for a shorter time when leasing than when buying, you avoid many long-term maintenance costs.
Will there be specific mileage allowance?
Autoporter will tailor your lease term to fit your annual mileage requirements.
I use my vehicle for business. Does leasing offer any advantages?
Yes, leasing clearly establishes your annual transportation cost for easier verification of tax deductions. Leasing simplifies what can be a tedious process of keeping track of depreciation and operating costs.
If I decide to lease, what should I do with my present vehicle?
Again, the options are all yours. You can trade in your vehicle and use the money to reduce your lease payments, receive a check and spend it any way you want, or simply sell your present car and pocket the cash.
Can I lease a used vehicle?
Yes, your lease representative will help you figure out if a used car lease is right for you.