Most of our customers are car enthusiats who want the best deal for their car, whether they're leasing, buying or selling. Our auto leasing consultants are able to “shop” the best deal for your car, whether it is new or pre-owned, because we listen when you describe exactly what you want. We will locate your car through our dealer network, and through these partnerships, we can find the car you’re looking for, and secure the most competitive rates.

Advantages of Leasing vs. Purchasing A Car

Benefits of Leasing

The greatest benefit of leasing a car is the lower out-of-pocket costs accrued when acquiring and maintaining the car. Leases require little or no down payment, and in most cases, the first months payment and fees are all that's required. Additionally, monthly payments are usually lower, and you get the pleasure of owning a new car every few years.

Luxury vehicles tend to retain a higher value, and offer a higher residual value of any leased vehicle at the end of the lease term. This feature alone makes leasing particularly attractive.

With a lease, you are essentially renting the car for a fixed number of months (typically 36-48 months). Therefore, you pay only for the use (depreciation) of the car for that period, and you are not forced to absorb the full depreciation cost of the vehicle. Leasing a car will never put you in an upside-down position.

Leasing also provides an alternative when buying a car is not an option. Most banks willnot lendmore than $30,000for a car loan. If you are planning to acquire a car worth more than that, leasing may be your only option.

Finally, for business owners, leasing a car may offer tax advantages if the vehicle is used for business purposes.

Less money down.
Leases structured for tax benefits.
Lower monthly payments.
All types of credit can qualify.
Any vehicle, new or used.
Negative equity recovery leases

Benefits of Purchasing

The most obvious benefit of buying a car is that you may actually own it one day. Implied in this benefit is that you'll one day be free of car payments. The car is yours to sell at any time, and you're not locked into any type of fixed ownership period.

Leasing vs. Purchasing Overview:

The decision to lease or buy will always depend on your personal circumstances.If your objective is to one day to be rid of car payments, and you actually want to take ownership, buying a car may be the best option. If, however, your goal is to drive a new vehicle every four years, one that will always be under warranty, and/or to minimize your monthly costs, leasing a car may be a better alternative.

Our Auto Leasing and Purchasing Consultants are here to help you educate yourself about your financing options.With our years of automotive retail experience at your disposal, we will work for you, helping you make an informed decision that is right for you.

Auto Leasing Terms Glossary

(Luxury autos like Land Rovers purchased with less hassle)

Allowable Mileage: The number of miles you are allowed to drive over the term of the lease. Often this is stated as the number of miles per year you can drive. Most leasing companies allow 12,000 miles a year. On a three-year lease, that means you can drive a total of 36,000 miles. If the allowable miles are exceeded, you typically must pay between 12 and 15 cents per mile.

Capitalized Cost: Often called the cap cost, this is basically the negotiated price of the car and all the options. This becomes one of several figures used in calculating a monthly lease payment.

Depreciation: The amount by which property (in this case, a vehicle) loses its value. In leasing, depreciation is the difference between the new car's cost and the value of the car at the end of the lease (plus tax, interest and various leasing fees).

Drive-off Fees: The amount of money you must pay to begin the lease. Typically, this includes various DMV and leasing fees plus a security deposit. Some people who want to reduce the amount of their monthly payments will also make a cap reduction payment. This is cash, paid up front, and it becomes part of the drive-off fees.

Early Termination: When you want to get out of the lease contract before all your payments have been made. After 24 months of a three-year lease, for example, you might decide you no longer can afford the car, or you are sick of it. So you decide you want to terminate the lease. This is very costly since leasing companies require you to make all the remaining payments and pay a penalty. However, some new Internet companies have sprung up recently to help people sell their leases to someone who wants to step into a short-term lease at lower payments.

Excess Wear and Tear: Most lease contracts have a clause which states that the person leasing the car is responsible for the cost of "excess wear and tear" to the vehicle when it is returned. When cars are used, they will eventually show signs that someone has been in them. What is considered excessive? Check your contract for specifics. But keep in mind that it is important to have the car washed and detailed before you return it. This can go a long way to avoiding having your security deposit revoked or extra charges levied by the leasing company.

Gap Insurance: If your leased car is stolen or totaled in an accident, there might be a gap between what your insurance company will pay you for the loss and the amount you now must pay to the leasing company. If you take out gap insurance (it is included in some lease contracts), this will cover you for this loss. For more information, check out the section on gap insurance in our article, Little Known But Important Insurance Issues.