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What do I need to know about leasing a vehicle?

· 2 min read

Vehicle Leasing FAQs

If you are in the market for a new vehicle, you have a variety of options available to you. If you like to have the latest technology, don't have a vehicle to trade in or don't have a large down payment saved up, leasing a vehicle might be the best option for you! But how can you be sure? Check out these common questions that people have about leasing a vehicle and our answers to them right here!

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Car lease Frequently Asked Questions

Why should I lease a vehicle? Most people who lease tend to enjoy lower monthly payments than when they buy a vehicle outright. There also tends to be more warranty coverage that lasts the entire term of the lease, leading to lower repair costs for lessees, as well as the opportunity to continually drive the newest, most up-to-date models without having to stress about buying and selling a new vehicle every couple of years. How does a lease work? Leasing a car is essentially like borrowing the car for a fixed amount of time, at the end of which the vehicle is returned to the dealership. Lessees still pay an interest rate on the vehicle and generally keep the vehicle for two to five years. People who like to have all the latest technology available, who typically don't have long daily commutes and first-time car buyers who don’t have a vehicle to trade in or don't have a large down payment saved up are all great candidates to lease a vehicle. How many miles can I drive per year? This number varies with the vehicle you choose, but is usually between 10,000-15,000 miles. How do I return my leased vehicle? At the end of your leasing period, you have a few options. You can buy the leased vehicle from the dealership, trade it in for a new lease, or return the vehicle. To return your leased vehicle, simply bring it to the dealership at the end of your lease agreement. If you would like to learn more about the benefits of leasing a vehicle, you can contact a member of our sales team here at Palmen GM! They would be happy to answer any additional questions you may have about any of the vehicles on our lot.
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What to do after a car accident Getting into a car accident can be a terrifying experience. Whether it’s a minor accident or a major one, it can be jarring and might be difficult to remember what you need to do. Check out this list of steps to take after a car accident to help navigate your way through it! more Read More: 5 steps to take when having engine issues Steps to take after a car accident Secure the scene: Try to leave your hazards on and pull over off the road as much as possible. If your lights aren’t working, we recommend having flares or a flashlight handy in your car. Never leave the scene of an accident. Call the police: It is almost always in your best interest to call the police after an accident, even if it was relatively minor. You may need a police report in order to file a claim with your insurance company. Be ready to relay exactly what happened to the best of your ability without speculating or guessing about any facts. Take photos and exchange information: Get evidence of the accident by taking photos of both vehicle damage and physical damage to your body if any. You should also exchange information with the other parties involved in the accident, including a phone number and insurance information. Report the accident with your insurance company: You should try to do this as soon as possible to start the process and learn what your benefits are as part of your coverage. Following these steps can help you navigate the time period immediately following the accident to protect yourself and your rights and start on the path to resolving the issues post-crash. Drivers in need of repairs to their vehicle can schedule a service appointment online or come to the Palmen Buick GMC Cadillac service department!

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