How Does Leasing a Car Work?

How Does Leasing a Car Work: First Steps

Leasing a car is somewhat like a long-term rental, you are paying for the vehicle for a predetermined set of time. The lease cost is determined by the vehicle’s expected depreciation over that period and typically involves a few additional fees and interest charges built into the contract. Here are a few important elements to consider, when it comes to how to lease a car:

• All leases have a set mileage limit you must stay within. You will accumulate fees or additional charges if you go over the set limit, so plan accordingly. Calculate the number of miles you spend commuting each year or each month, and figure out how much leftover space you have.
• Leasing a car is typically less expensive than financing a new model. It’s always a good idea to explore available offers and incentives prior to signing a contract.
• During the lease term, you will be responsible for taking care of scheduled maintenance. This includes staying within your mileage limit and maintaining the vehicle in as close to factory condition as possible. Our service department can take care of all necessary maintenance work, so you can trust our team for your care in the office and as you drive off the lot.

If you currently own a vehicle and are getting ready to lease a new model, you can trade in your old model to reduce your monthly payments!

How to Lease a Car: End of Lease Term

As your lease term is coming to an end, you’ll want to contact our dealership and determine what specific items to bring to our lease return center in Vicksburg. It’s a good idea to do this in advance, as you’ll need to schedule a pre-inspection near Three Rivers before you turn in the vehicle.

As you reach the end of the lease term, you have a few options to consider when it comes to your next vehicle:

• Return your leased car and pick out a new vehicle
• Extend your current lease
• Return the vehicle and take your next steps elsewhere
• Buy the vehicle that you’ve been leasing

If you plan on returning the vehicle and leasing a new car, you should let us know early on so we can get a new vehicle ready for you. There are a few steps you will need to take beforehand, however: 

1. If there were any issues discovered during your pre-inspection, you’ll want to get ahead of them, or risk charges for excess wear and tear. 
2. Certify your vehicle’s current mileage.
3. Take the time to clean the vehicle and wipe your information from the infotainment systems.
4. Bring all of your lease paperwork, along with any records that show when and where you scheduled service.
5. Be sure to take care of any remaining fees and start your new adventure! A bill may take some time to arrive, but it’s best to save during your lease so you’re ready for any surprises.

Lease Your Next Vehicle at DeNooyer Ford Today!

After exploring how to lease a car,  you can come and sit down with our financing team and chat about the details! You can also shop and lease from the comfort of your home with our available online buying tools. Feel free to start the process of upgrading today!