What is Leasing?
Leasing is a short-term financing option where you pay for the vehicle for a set number of months and miles. For example, if you are leasing for 36 months/36,000 miles, you are only paying that time, hence the monthly payment on that new vehicle can be much lower.
Is Leasing Right for Me?
The short answer is maybe. It really is very situational. The lease specials with the low monthly payments that get many of our Grand Rapids, MI drivers excited are targeted towards low mileage drivers, but that doesn't mean you shouldn't lease. The monthly payment on a high-mileage lease on a new vehicle with no money down will still almost always be lower than the monthly payment on a new vehicle auto loan with no money down.
What are some Benefits to Leasing?
There are many benefits to leasing. Some of them include:
- Lower monthly payment on a new vehicle
- Typically under the manufacturer's warranty the entire time you are in the lease agreement.
- You have a shorter commitment and can get into a new vehicle with the latest features relatively quickly.
- Don't have to worry about trading or selling your vehicle at the end of the lease agreement.
What Options Do I Have at the End of the Lease?
You have many choices at the end of your lease agreement. Some options include:
- Lease a new vehicle
- Get an auto loan for a new or used vehicle
- Purchase or finance the vehicle you just leased.
Explore Our Lease Specials
Our Wyoming, MI area customers should peruse our lease specials. The finance team at Baker Auto Plaza, in Coopersville and Kent, MI, is ready to answer any questions about those specials. The lease deals expire monthly so give us a call, or stop into our dealership, and get started on leasing your new vehicle today.
