Lease Options

Purchase Financing

Purchase is the most straight-forward agreement which includes making a down payment on a vehicle followed by paying a fixed monthly amount in order to spread the cost of purchasing a motor car over a number of years. A benefit of this agreement includes that the initial deposit is flexible. Terms available include 24-84 month financing. To save time and get pre-approved, fill out the form HERE.

As we are specialists in the space, we are happy to provide clarification on Leasing options as it’s a common question from our customers. The most common types of finance arrangement includes:

Car Lease:

Open-End Lease:

Open-end leases allow the lessee (the one who borrows the vehicle) to guarantee a value at the end of the lease. This is called the Guaranteed Residual Value (GRV) and is outlined in the lease contract. The lessee has the option of purchasing, selling, or trading-in the leased vehicle at the end of the contract for the GRV provided the car is worth at least that amount.

If the market value of the vehicle is less than the GRV at the end of the lease, the lessee is responsible for the difference, whether they plan to buyback the vehicle or return it to the lessor. For instance, if the GRV is $10,000 and the market value of the car is only $8,000 at the end of the contract, the lessee will be responsible for paying the difference of $2,000.

In return for bearing the financial risk of the lease, the lessee typically pays a less expensive rate and doesn't have to worry about a mileage restriction.

Feel free to Contact Us for clarification, questions, or to setup an appointment today!