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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.
A car that’s only a year or two old may qualify for the same interest rates as a new one, but if you’re looking to finance a vehicle that’s five to 10 years old, prepare to pay a slightly ...
For example, your lease may stipulate that you will pay an additional 18 cents for every mile you drive over 12,000 within the year. This fee can add up quickly.
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.
GAP coverage is mainly used on new and used small vehicles (cars and trucks) and heavy trucks. Some financing companies and lease contracts require it. [2] GAP insurance covers the amount on a loan that is the difference between the amount owed and the amount covered by another insurance policy. [1] Some GAP policies also cover the deductible. [3]
While each company offers its own warranty coverage, most CPO cars have a limited warranty that lasts for up to one year or 12,000 miles, whichever comes first. Cons of Leasing a Used Car