The Guide to Leasing

Leasing your next vehicle can have a lot of advantages. It's always under warranty, you never have to worry about selling it down the road, and it can even be cheaper than financing. But what if you want to get out of your lease early?

Some Dayton, OH car owners might not realize it's actually possible to trade in your lease early, or even sell it outright. Below, we're going to give you info about the different ways to end your lease ahead of schedule. We will also look at some of the unique aspects of leasing itself, so you can decide if it's the right option for you.

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Should you lease your car?

We get asked this question almost daily. Is leasing a good idea? Does it cost more than financing? You don't own the car at the end, is that bad or good? Let's break it down.

A lease, in simplest terms, is a contract in which you pay the depreciation on the vehicle over the term. So, if a Volkswagen Jetta depreciates a certain amount over three years, your lease payment will be that amount divided by the number of months in your lease.

Of course, this won't be the final number, but it's most of what you're paying for in your lease. Depending on interest rates and current incentives, lease payments can often work out lower than financing.

Other ways leasing can save you include repairs down the road. Most financing terms are 5+ years. If your warranty ends before then, you could end up paying for expensive repairs while still financing the vehicle.

On the other hand, leased vehicles are always under warranty. And since the most common lease term is 36 months, buying tires or other replacement parts will be a thing of the past.

However, the most common objection to leasing is that when it ends, you don't own the car like you would when financing the full amount. But is that good or bad? Let's take a look.

What happens when a lease ends?

When people think of 'turning in their lease', most picture heading back to the dealer they leased from and dropping off the keys. But there are actually a lot more ways of ending your lease, which could work out in your favor.

Say your lease ends on January 31st. You would probably start looking for your next vehicle beforehand. You might also start getting special lease-end offers from your dealer. Sometimes called Pull-Ahead programs, these can offer significant discounts on new leases.

Savvy lessees will take advantage of these offers to find attractive lease options, sometimes months before their lease was set to end.

Some drivers will fall in love with their car and decide to buy it after their lease ends. This can sometimes work out to be more expensive, so it's best to consider other options.

Starting or ending a lease? Visit an Evans Dealer 

Leasing can be a great option for many Dayton, OH drivers. It offers the peace of mind of warranty coverage, can result in lower monthly payments, and lets you take advantage of certain lease-specific incentives.

If you have a lease that's set to end, you will want to give us a call to learn about your options. We sell our new vehicles below invoice, meaning you can get very attractive lease terms. For those leasing an, there's no better place to save than at an Evans Dealership in Dayton, OH.

Call or visit us today to discuss leasing your next car. There are a lot of advantages, and current lessees have special offers for turning in their leases early at an Evans Dealership.