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The process of applying for a lease on your next car is similar to the application you'd submit for a car purchase. The Motor Vehicle Leasing Disclosure Act requires lenders to follow certain rules.
Consider the pros of leasing a car. When you lease a car, you sign a contract allowing you to drive it for a period, such as three or four years, after making a down payment, such as 10%.
Vehicle leasing is the leasing (or the use) of a motor vehicle for a fixed period of time at an agreed amount of money for the lease. It is commonly offered by dealers as an alternative to vehicle purchase but is widely used by businesses as a method of acquiring (or having the use of) vehicles for business, without the usually needed cash outlay.
Mileage fees. One decision to make when leasing a car is selecting how many miles you expect to drive it. Three-year leases typically offer options of 10,000, 12,000, or 15,000 miles annually.
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Leasing can be riskier than buying a car outright (or financing a car purchase with a loan). Leasing companies charge fees for lots of things, like going over the mileage and returning the car ...
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