Leasing is very similar to renting a vehicle, except when you lease a car; it is for a much longer period of time. A lease payment is also similar to a loan payment. Even with these similarities, there are several differences between leases and loans. When leasing, a customer will only cover the monthly installment for the depreciation value of an auto. In other words, this pertains to the value a car loses as time passes. With a loan payment, you will pay for interest and additional fees, on top of the entire value of the vehicle.
About Auto Leasing - NYC Car Dealers
When you lease an auto, you sign a contract to drive a car while paying a monthly installment until your contract expires. At the completion of the lease, you have to bring the car back to the corporation. Often, you have the option to buy the car if you want it. You can choose to trade up for something different and newer. You do not really own the vehicle, so you must take especially good care of the vehicle, maintain it, and return it in good condition. This way, the auto leasing company can resell it for a decent price. Even if you have chosen to keep the vehicle at the end of your auto lease, it is good practice to keep your car in good condition.
Car Leasing RatesThe way we determine your car leasing rate is easier than you think. The monthly installment is calculated by the depreciation value of the automobile you would like to lease. The higher the rate of depreciation the vehicle has, then the higher your monthly lease payment will be and vice versa. If you choose a vehicle that holds its value over time, then your car lease payment will be much lower each month.
Your car lease rate is also calculated based on whether you customize your automobile or if you choose to stick with the standard features. At NYC Car Dealers, working with our customers is the best way to determine out an optimal auto leasing rate that will meet our customers’ requirements and budget. Additionally, we have sensible auto leasing rates that are better than the competition, which we are able to do because our business is run solely online. If any company significantly cuts their overhead expenses, then they can offer more savings to their customers.