How Does Leasing Work in White Plains

Intimidated by the process of how to lease a car? We at the Pepe Auto Group finance department near Yonkers have compiled a helpful how-to guide on how to start a lease, what to do when you are leasing a vehicle, and how to return your leased vehicle in excellent shape!

Starting a Lease

After choosing from our extensive inventory on which car you would like to lease, there are some steps you should follow:

1. Budget: While you do not have to worry about a down payment, you still have to plan a monthly payment plan through our payment calculator.
2. Determine Your Average Yearly Mileage: A leased vehicle comes with mileage restrictions that can be negotiated but will impact monthly payments. This is why it’s important to ballpark average how much you will drive.
3. Get the Best Deal: Use our new vehicle lease specials to save money.
4. Negotiate: Once you’ve picked a vehicle, you will negotiate the lease payments. You can also trade-in your current vehicle to reduce some costs.
5. Sign and Drive: You’ll want to make sure that all the finances are clear and that you are knowledgeable about mileage restrictions and policies regarding damages. Once you settle on an agreement, the vehicle is yours.

What to Do During Your Lease

There are some key differences from financing a car such as:

1. Mileage Restrictions: If you go over a mileage cap, you will have to pay a penalty.
2. Maintenance: You are responsible for maintaining the vehicle. Any additional damages will be coming out of your pocket.
3. Alterations: You are not allowed to make major alterations to a vehicle that isn’t easily removable.
4. Breaking Your Lease: In most cases, you can break your lease if you need to get out early, such as if you move to a different state. If you break your lease you may have to pay a penalty fee, so it’d be better not to break a lease if at all possible.

What to Do at the End of Your Lease

When your lease is finished you can either: 

• Return Your Lease
• Exchange Your Lease for a New Leased Car
• Extend Your Lease on Your Current Vehicle
• Buy Your Leased Car

What you do after your lease is finished is entirely up to you! However, here is what you need to do if you return or exchange the car:

1. Clean the Car: Clean the car and have it returned as close to the original condition as possible.
2. Bring Any Paperwork: Bring any terms of agreement and service records.
3. Pay Any Fees: You are responsible for the wear and tear or the mileage overage fees. This fee covers costs while assessing the condition and resale value.

Lease a Car Today at Pepe Auto Group

We hope you’ll join us in the process of leasing a luxury vehicle with Pepe Auto Group near Stamford, but if you still have additional questions feel free to contact us or stop by our offices to talk with a dealer!