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Common Lease Questions and Terminology Bronx 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.

Penske Truck Rental
(914) 668-4484
200 E Sandford Blvd
Mount Vernon, NY
 
Enterprise Rent A Car
(914) 667-6720
10 S 1st Ave
Mount Vernon, NY
 
U-Haul Company
(914) 665-5548
114 Mount Vernon Ave
Mount Vernon, NY
 
Link Sand Truck & Car Rental
(914) 665-1048
9 Gramatan Ave
Mount Vernon, NY
 
Hertz - New York City Laguardia Airport
(718) 478-5300
Marine Air Terminal
New York City, NY
Hours
24 Hours, 7 Days
Special Services
Child Seats, Gold Canopy , Hand Controls for Disabled Drivers Only In-Car Navigation System , Prestige Service

Apollo Car Rental Inc
(877) 901-7500
109 W Sandford Blvd
Mount Vernon, NY
 
U-Haul Company
(914) 699-7400
263 S 5th Ave
Mount Vernon, NY
 
Autorent Car Rental Corp
(212) 987-4400
220 E 117th St
New York, NY
 
Enterprise Auto Rental
(212) 987-3624
20 E. 117Th St
New, York, NY
 
Agency Rent A Car
(800) 564-6116
8414 Astoria Blvd
East Elmhurst, NY
 

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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