Some of the commonly asked questions in the leasing of the vehicle
Q: Can I lease a car with no money down? A: Yes, You can
Q: If leasing companies need a down payment, how much would it be? A: Yes and No, Usually the first month payment as a security deposit, in addition to taxes and fees will have to be paid in advance . However, you could negotiate for zero money down leasing.
Q: How long can one lease a vehicle?A: From twelve to seventy two months. The terms how –ever may vary. The popular term are 24 months, 36 months or 48 months.
Q: Who is responsible for the maintenance?A: You are. Along with all the manufacturers recommended servicing and oil change.
Q: What will I do with my car after the lease expires?A: Return the vehicle to the lessor and walk away, or you may purchase the vehicle at a predetermined price,if such option is offered to you in the lease agreement.
Q: If I am only leasing a vehicle for 24 months, why should I pay full sales taxes?A: You may have to find out about it from the lessor.
Q: What is the difference between a closed-end and an open- end lease?A: In a “closed-end” leaser the lessor bears the market valuation risk. In an “open-end” lease the lessee shares in the responsibility for the vehicle’s worth at lease end. However, most manufacturers prefer a close-end lease.
Q: Who is the lessee?A: You, the person who leases the vehicle.