Compare Car Lease Options with Car Loan World
Providing an alternative to traditional auto loans, car leasing is a popular form of auto financing that lets you get behind the wheel of a new vehicle, without having to take out a loan or stump up a large sum of cash. But, how do you choose the right car lease for you? That’s where Car Loan World comes in. Using expert knowledge, our team of specialists compare options from multiple lenders, to provide you with a range of car leases to choose from.
About Car Leasing
When you lease a vehicle, you create an agreement between you and your lender in which you agree to pay a regular payment over a certain period of time. While this may sound similar to the way an auto loan works, a car lease is different, as you are essentially renting the vehicle from your lender – which means you don’t own the vehicle at the end of the lease period.
When the lease ends, you can usually choose to return the vehicle, pay it out so that you can keep it, or create a new lease for a new vehicle. So, why would you choose a car lease over an auto loan? When you opt for a car lease, your down payment is usually lower – and in some cases, there is no down payment required at all. Payments may also be lower, which can make paying a car lease more manageable than paying off an auto loan.
Just like auto loans, car leases are not for everyone. But, you may find a car lease is a good option for you if you don’t have the cash to cover a large down payment, or you want to pay a lower amount each month. A car lease may also work well for you if you know you can take good care of the vehicle, and that you won’t go over the mileage cap in the contract. If it sounds like a car lease would be a good fit for you, get Car Loan World on the case and start comparing your options.
Lower Upfront Cost
Take advantage of a lower down payment – or even no down payment at all!
Lower Repayments
You could enjoy more manageable payments each month!
Instant Approval
Get on the road faster with instant approval on your car lease!
Features and benefits
- Benefit from discounted pricing on the vehicle you choose.
- Keep costs down with a lower down payment and lower regular payments.
- Drive a vehicle that you wouldn’t be able to purchase upfront.
Benefits for your employer:
- Trade in your existing vehicle or lease.
- Flexible payment schedules and lease terms available.
Important Factors To Remember
You are essentially renting the vehicle. When you lease, you only pay for a portion of the vehicle’s cost, which is why lease payments are typically lower than repayments on an auto loan. You are really paying for the use of the vehicle, not for the vehicle itself.
You don’t own the vehicle when the lease expires. Unlike an auto loan, you don’t own the vehicle at the end of the lease. That means, despite making regular payments on it, you don’t build up any equity in the vehicle, so you won’t have anything to trade in to put towards your next vehicle.
You choose what happens at the end of the lease. When the lease expires, your lender will give you a number of options to choose from. You may be able to return the vehicle, or pay out the residual to keep it. You may be given the option to cover that residual with further financing.
Certain costs are built in to your lease payments. In most states, sales tax is only charged on your monthly payments. You will typically pay a financial rate called a money factor (similar to the interest rate on a loan), and you may also have to pay special lease-related fees and a security deposit.