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Common Lease Questions and Terminology Flushing 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.

Pereza Auto Corp
(718) 651-4698
10601 27th Ave
East Elmhurst, NY
 
U-Haul Company
(718) 205-7446
10106 Astoria Blvd
East Elmhurst, NY
 
Budget Rent A Car
(718) 639-6400
8808 23rd Ave
East Elmhurst, NY
 
A Discount Rent A Car Inc
(718) 478-2843
3231 Junction Blvd
East Elmhurst, NY
 
Dollar
(718) 424-7198
7615 Roosevelt Ave
Jackson Heights, NY
 
Laguardia Rent A Car
(718) 476-8181
3231 Junction Blvd
East Elmhurst, NY
 
Dollar Rent A Car
(718) 779-7456
La Guardia 22-61 94t St
East Elmhurst, NY
 
Avis Rent A Car
(718) 672-5137
9010 Grand Central Pkwy
East Elmhurst, NY
 
Dollar
(718) 429-3984
8018 Roosevelt Ave
Jackson Heights, NY
 
Four Ones Car Svce
(718) 835-1111
9616 Metropolitan Ave
Forest Hills, 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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