![]() Leases also typically have less money due at signing – like a down payment – than financing a car does. Because you’re borrowing less money, your payments are lower. Remember, instead of paying for the full price of the car, you only pay for the value it loses during your lease. Make sure you also check out this month’s Best Lease Deals to find incentives on new car leases.įor most people, leasing a car is appealing because it offers lower monthly payments than if you finance a car. Leasing a Car and How to Lease a Car for more details. Still not sure if leasing is for you? Check out Buying vs. You never own it, and when your lease is up you can just walk away from it, with no more lease payments to make. After making payments for the $20,000 over three years, you turn the vehicle back in to the lender. Instead of an interest rate, you’ll be a charged a money factor (which is really the same thing as an interest rate it just has a different name). That $20,000 is the amount you effectively borrows from a lender when you lease a car. Let’s say you’re going to lease it for three years, and over those three years, it’s going to depreciate by $20,000. Let’s take that same $50,000 car from the example above. Depreciation is the decrease in the vehicle’s value due to age and use. When it comes to leasing, you only borrow enough money to pay for the vehicle’s depreciation while you’re using it. You own it, and you don’t make any more payments on it. You make equal monthly payments over a set period of months, and when you’ve made all your payments, the car is yours. That interest rate is how your lender makes a profit. Your lender will charge you an interest rate, which is a percentage of the money you owe and acts as a sort of rental fee for the money you borrow. For example, if you are buying a car that costs $50,000, you borrow $50,000 to pay for it. When you finance a car, you’re borrowing money to pay for it, and you must borrow the entire price of the vehicle. There are two main differences between a car lease and a car loan: how much of the car’s value you borrow and what happens at the end of the lease or loan term. A new car lease is simply another way of borrowing money to pay for a car. However, if you’ve never done it before, leasing a car can seem confusing. Price subject to change if manufacturer rebates change.As new cars get more technologically advanced and more expensive, new car leasing has gotten more popular. Not all will qualify for all rebates and savings. Purchase with additional dealer discounts including a $1,000 Imperial TradeĪssistance Bonus Cash for qualifying 2011 or newer vehicle. *Price reflects all applicable manufacturer rebates (not all will qualify). We also have large assortment of other of quality pre-owned cars, trucks, and SUVs in stock.Ĭall us at 800-526-AUTO (2886) or contact us to learn more about the Chevrolet Equinox, special offers and Equinox lease deals. Not sure a brand new Chevy Equinox is for you, check out our inventory of Used Chevy Equinox for sale. Or come in for a test drive and see this great vehicle for yourself.Īt Imperial Cars our Chevrolet dealership, Imperial Chevrolet, offers a huge selection of Chevy Equinox models. Please visit our Chevrolet Equinox model showroom page to learn more about the Chevy Equinox and the different trim levels available. It helps to make it more fuel efficient by reducing wind drag.Īdditionally the Chevy Equinox offers technology you expect in a family vehicle like smart safety technology and Wi-Fi connectivity. It has room for all your passengers and all your stuff too with and easy to configure 63.7 cubic feet of cargo space.Įquinox's stylish exterior is more than just a pretty face. If you are looking for a fuel efficient SUV with room for 5 passengers and great cargo space then look no further than the Chevy Equinox. Why Service With Us Service FAQs FAQ: Winter Maintenance Service Hours.Mid-Size, Light & Heavy-Duty Truck ComparisonĢ021 Ford Bronco - Reserve Yours Today Compare: AWD vs FWD Vehicles Compact, Mid-Size & Full-Size Sedan ComparisonĬompact, Mid-Size & Full-Size SUV Comparison
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |