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Common Lease Questions and Terminology Albany NY

Vehicle leasing is a contract to acquire the use of the vehicle for only a specific period. Most often it is for a two- or three-year period of time. In most cases, the lease payment will be lower than the purchase payment, making leasing increasingly popular as the price of new vehicles continues to rise.

Enterprise Rent-A-Car
(518) 453-6222
733 Central Ave # 2
Albany, NY

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Enterprise Auto Rental
(518) 453-6222
33 Central Ave.
Albany, NY
 
Hertz - Rensselaer Amtrak
(518) 454-9701
East Street Rensselaer
Albany, NY
Hours
Mo-Fr 0800-1700, Sa-Su Closed
Special Services
Child Seats, Hand Controls for Disabled Drivers Only , Ski Equipped Vehicles, Gold Counter Service
Additional Information
After Hours - Please make reservation for the Albany International Airport, 737 Albany Shaker Road. Cab fare to the airport will be reimbursed up to $20.00 with receipt. After hour returns are allowed. Park vehicle in the Long Term Parking area. The drop box is located at the Amtrak Ticket Counter Information Booth. A $5.00 charge will be applied to the rental if returned to the Amtrak Station.

Enterprise Auto Rental
(518) 785-7771
37 Albany Shaker Rd
Albany, NY
 
Hertz - Million Air Albany
(518) 869-0253
16 Jetway Drive
Albany, NY
Hours
0600-2400 7 Days
Special Services
Child Seats, Hand Controls for Disabled Drivers Only In-Car Navigation System , Ski Equipped Vehicles, Gold Counter Service
Additional Information
This location is for Private Flights only

Hertz - Albany Central Avenue HLE
(518) 454-9701
818 Central Avenue
Albany, NY
Hours
Mo-Fr 0730-1800, Sa 0900-1200, Su Closed
Special Services
Child Seats, Hand Controls for Disabled Drivers Only , Replacement Rentals When your car is in the shop for repairs.Insurance/Body Shop and Dealership/Service Center replacement rentals available at this location.for replacement rental reservations. In-Car Navigation System , Gold Counter Service , Pickup/Return Service:Available with a one hour advance notice and within 15 minutes from the Hertz Local Edition location. Contact the location to arrange for Pick Up service.
Additional Information
After hour - After hour returns are allowed. Park vehicle in parking lot. Place completed rental agreement and keys in the drop box on the front wall of the office. Pick up time must be at least one hour after location opening and one hour prior to location closing.

Hertz - Albany Crowne Plaza HLE
(518) 434-6911
30 Lodge Street
Albany, NY
Hours
Mo-Fr 0800-1100 and 1200-1700, Sa-Su Closed
Special Services
Child Seats, Hand Controls for Disabled Drivers Only , Replacement Rentals When your car is in the shop for repairs.Insurance/Body Shop and Dealership/Service Center replacement rentals available at this location.for replacement rental reservations. In-Car Navigation System , Ski Equipped Vehicles, Pickup/Return Service:Available with a one hour advance notice and within 15 minutes from the Hertz Local Edition location. Contact the location to arrange for Pick Up service.
Additional Information
After Hours - cab fare to the Albany International Airport will be reimbursed up to $20.00 with receipt. After hour returns are allowed. The drop box is located at the entrance to the Hertz office. Bus - approximately 2 blocks from the bus station. Railroad - Approximately 2 miles from the railroad station. Cab fare will be reimbursed for one person up to $8.00 with receipt. Pick up time must be at least one hour after location opening and one hour prior to location closing.

Enterprise Auto Rental
(518) 472-1111
1 S. Pearl St./T.U. Center
Albany, NY
 
Hertz - US Airports
(581) 456-1777
737 Albany Shaker Road
Albany, NY
Hours
0800-2200 7 Days
Special Services
Child Seats, Hand Controls for Disabled Drivers Only , Gold Counter Service
Additional Information
This location is for Private Flights only.

Hertz - Albany International Airport
(518) 783-1081
737 Albany Shaker Road
Albany, NY
Hours
0600-2400 7 Days
Special Services
Child Seats, Hand Controls for Disabled Drivers Only In-Car Navigation System , Ski Equipped Vehicles, Gold Counter Service
Additional Information
After Hours - Meets commercial flights if reservation is received by 2200. Flight number and airline required on reservation. After hour returns are allowed. Drop keys and rental record in the drop box located in front of the counter.

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Common Lease Questions and Terminology

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Vehicle leasing is a contract to acquire the use of the vehicle for only a specific period. Most often it is for a two- or three-year period of time. In most cases, the lease payment will be lower than the purchase payment, making leasing increasingly popular as the price of new vehicles continues to rise.

Why are lease payments often less than finance payments?
A finance purchase requires payment for the full negotiated value of the vehicle during the term of the loan (the full cost of the vehicle can be determined by adding the down payment, monthly payments, interest, taxes, and any other associated fees). Since you will own and take title to the vehicle at the end of the term, the bank has little interest in the vehicle itself"other than its collateral value during the loan. A lease only requires you to pay for the depreciation of the vehicle during the contracted term in which you wish to operate it. In effect, you are only paying for the portion of the vehicle you use.

Additionally, with a lease, the leasing company owns the vehicle. This relationship means the lessee has a responsibility to maintain the vehicle according to strict standards defined in the lease contract. Specific terms set limits as to the amount of damage ("wear and tear") or mileage ("mileage allowance") allowed on the vehicle during the lease period. Leasing companies also require their vehicles to be properly insured and maintained during the lease....

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