How Leasing Works

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The time has come for a new car – and you’ve decided on a lease. But exactly what does that mean for you? Here is some information on how leasing works.

Ownership

When you lease a vehicle, you’re borrowing it from Buick or GMC for the agreed-upon amount of time. This takes the responsibility of ownership off your shoulders, but also means that you can’t personalize the vehicle or do anything to it that isn’t reversible.

Mileage

When you lease a car, you’re restricted in the amount of miles you can drive each year. Most leases allow you to drive anywhere from 9,000 to 15,000 miles per year. However, you might be able to increase your allotted mileage with an added monthly fee.

How leasing works - 2018 GMC TerrainPayments

Many leases come with “no money down” deals or require less money down than buying a vehicle. After this, you pay a set monthly price. When paying for a leased vehicle, you’re only paying a portion of its value.

Lease Period

Most lease periods are 24 or 36 months, but this amount of time can vary. When you sign a lease, you agree to keep the car for that amount of time. At the end of your lease period, you can either trade-in for a new car or buy the car you were leasing.

Have more questions about leasing or want to see what leasing special we have? Stop by or give us a call at Freehold Buick GMC.

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