The Keys Leasing
Lease Return Process
Chapman Ford Jeep Dodge Ram
Is Prepared To Facilitate your Lease Return
Regardless of where you leased your vehicle, Chapman Ford Jeep Dodge Ram is here to assist you with your lease return. You are not required to return your vehicle to the dealer that leased it to you initially. Our will gladly facilitate your lease return and answer all of the confusing questions that inevitably come up when returning your vehicle such as: can I turn my lease in early? What are my mileage requirements? What are my purchase options? Are there excess wear and tear charges?
As you near the end of your lease, Chapman Ford Jeep Dodge Ram thanks you for your business. We hope you've enjoyed your leasing experience and we've helped ease your lease termination process. At Chapman Ford Jeep Dodge Ram, our leasing specialists understand that turning in your vehicle should be as easy as possible. In an effort to keep you fully informed, we've added some of your end-of- lease options.
When your current lease expires, you have several choices:
You may turn in your vehicle, pay any final charges and lease or purchase another vehicle.
you may arrange for an extension of your lease (directly with Chrysler Financial)
You may pay off your vehicle or finance the predetermined purchase amount to keep the vehicle
You may turn in your vehicle, pay any final charges and be on your way.
Or you may choose to take advantage of either Ford's or Chrysler's lease conquest for greater savings.
Before you turn in your vehicle, you may want to consider having a pre-inspection performed to determine, in advance if your vehicle may incur additional expenses (forewarned is forearmed). Our leasing specialists at Chapman Ford Jeep Dodge Ram would gladly perform a pre inspection at no cost to you. You are not responsible for "normal wear and tear," these things differ from dealer to dealer but may include minor dings, scratches or lightly soiled upholstery, you may be responsible for "excess wear and tear" this may include things more serious and apparent body damage torn upholstery, or missing parts.
If you believe your vehicle merits more significant repairs, you are always welcome to make an appointment to have your vehicle evaluated at our dealership. Repairs must be completed prior to turn-in to avoid any additional charges. Some repairs could be covered under warranty or insurance, which can result in significant savings. We also have a full-service body shop that can repair any damage to your vehicle.
Should you lease or buy a car ? Conventional wisdom says if you lease you'll have nothing to show for your money when the term is up. But that is short sighted and ignores all of the benefits of leasing, in this section we will look deep into leasing and help you better decide what works for you.
The advantages of leasing:
Low Down Payments -- Even though a lot of the advertised lease deals assume a down payment, In some cases we can minimize your initial investment or even eliminated it with sign and drive programs from the factory, Of course the more cash you come up with initially, the lower your monthly payments.
Low Monthly Payments -- Since you are only paying off the depreciation on the car -- not its full value -- your monthly payments are much lower than if you opt to finance the purchase of the entire car over the same period of time.
Easy Turnover -- Assuming your car is in good shape, when your two or four years are up, just stroll into the dealer, hand over the keys, and drive out with a brand new car and a new lease arrangement. You don't have to bother with selling the car or haggling with a dealer over trade-in value. That was all taken care of beforehand. There are typically special offers available to you for being a loyal customer from the factory.
No inequity to worry about - most consumer buy a vehicle or finance it over a term of months, typically you will not be at the break even point with your loan until you are about 3-4 years into the loan (based on 60 month term). Now you see that new model you want to purchase and you bring your current vehicle into the dealer for appraisal and you find out that after only 2 1/2 years of payments you have little or no equity in your vehicle or in most cases negative equity ( your car is worth less than the balance of the loan) now you are faced with rolling the negative equity into your next loan, putting the cash down to cover the difference, or keeping your current vehicle.
Here are a few questions that will help you understand if leasing or buying would be good for you.
If so, leasing makes sense, because usually you will put less money down than if you buy. Sales tax is paid monthly as part of the payment. Dealers often will allow you to roll many of the fees into the monthly payment as well by adding them to the price you pay for the car.
If you buy a car and finance it, you could easily have to put 20% of the purchase price down as well as 6% to 8% sales tax -- perhaps $10,000 on a $50,000 car. You are building up equity, but current cash needs may be more pressing.
2. How often do you want a new car?
Leasing is attractive for people who want new wheels every two to three years or so. It saves you the hassle of selling your cars, and allows you to move from car to car with relatively steady low monthly outlays and low down payments.
If you like to keep your vehicles for a long time then this is the right solution for you. Buying is a longer commitment to a vehicle it will take about 3-4 years to see equity on the vehicle. once your vehicle is paid off you can enjoy not having to make payments, but make sure to keep it in good working order so that service bills don;t become a problem from neglect
3. How much do you drive?
Check your odometer. It's been keeping track of your driving habits for you. The ideal lease customer drives about 15,000 miles a year and maintains a car in good condition. (Fifteen thousand is the average yearly amount you are allowed in most leases.)Modern leasing has come along way, we can taylor the lease to your driving habits, we have low mileage leases for those who drive 10,000 mile per year all the way up to about 20,000 miles per year.
if you drive allot of miles each year you will want to consider a buy. you will not have any over the mile charges to worry about like with a lease.