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What is Vehicle Leasing – Top Ten Car Lease FAQs

MINI Cooper Sports Car Leasing

What is an Auto Lease? How Does Leasing a Car Work?

Do you want to know what is vehicle leasing? or how does leasing work, then you’re in good company. Not everyone is familiar with all the pros and cons of leasing a car. In fact, there are a good number of auto leasing options available.

Generally speaking, vehicle leasing is the rental of a car for a fixed period of time. Automotive dealerships offer vehicle leasing as an alternative to traditional auto financing or purchase. It is widely utilized by businesses when acquiring a company vehicle. In general, leasing a car costs less than buying a car, although there are several restrictions, such as vehicle mileage limits and customization agreements, that can determine whether it is better to lease or buy a vehicle.

Let’s examine our ten most commonly asked questions regarding vehicle leasing.

  1. Am I Better Off Buying or Leasing a Car?

  2. The short answer to this question is: ‘it depends’. If you drive a lot of miles annual and like to keep your vehicles for longer than three years, leasing won’t be very beneficial for you. However, if you like getting a new car, truck, or SUV every two to three years and have no interest in the trade-in/selling process of your current vehicle, you could be a prime candidate for an automotive lease. Basically, the difference between auto leasing or buying really comes down to your personal, automotive and financial priorities.

    Also, it is worth mentioning that some owners find high mileage leasing to be more beneficial in terms of financial safety and security than vehicle ownership. Statistically speaking, despite the overage fees you may pay when returning a high mileage leased vehicle, it is likely that you will come out ahead, compared to buying a car. High mileage causes a significant reduction at resale, but with leasing, it’s already taken in to consideration. Additionally, the more time you spend on the roads, the more susceptible to accidents you will be. Therefore, if or when that accident occurs on your own vehicle, you would receive wreck history on CarFax, as well as a resale/trade-in deduction for vehicle damage. With leasing, you are not responsible for the deduction in value from that accident.

  3. Is Leasing a Car a Good Idea?

  4. The benefits of leasing a car are unique. You cannot get them with other auto financing offers. These benefits include lower payments, maintenance provisions, and avoiding having to trade-in or sell your old vehicle. For even more details on the benefits of auto leasing, our car finance department is standing by to answer all of your questions.

  5. Can You Lease a Used Car?

  6. Yes, you actually can lease a used car. This type of ‘used car leasing’ is a little known ‘secret’ among auto dealership but most dealerships do offer Certified Pre-Owned leasing specials on CPO vehicles less than four (4) years old and with fewer than 48,000 miles on the odometer.

  7. How Much Does Car Leasing Cost?

  8. Are you wondering how much it costs to lease a car? Well, the truth is that it’s negotiable. Most dealerships and manufacturers offer zero-down lease deals. Of course, there are varying factors that qualify or disqualify individuals from these types of leases. Factors such as credit payment history, credit scores, etc. Just keep in mind that paying nothing down typically means greater monthly payments. Vehicle leasing, like traditional auto financing, works like this: the more you put down, the less you pay monthly

  9. Can One Get a Deposit Back On Auto Leasing?

  10. Normally a lease deposit is only refundable at the end of the lease. At least this is true when all leasing contract specifications have been met. Please note that a deposit (a.k.a. a security deposit) is not the exact same thing as a down payment. Down payments are not refundable but security deposits typically are. Also note that some leases require non-refundable deposits. Therefore, read your lease agreement carefully and ask questions before you sign on the dotted line.

  11. May I Purchase the Car I am Leasing?

  12. Most auto leasing contracts have buy-out clauses in them in the event that you fall in love with your vehicle and would like to buy it. Please note that the purchase price of the car may vary. This depends on the residual value of the vehicle after the lease agreement has expired. There are also options to purchase your leased vehicle prior to the completion of the contract. For this, however, you will need to speak with a financing manager. Only they can provide these buy-out details and take care of any early termination fees that may apply.

  13. Is It Possible to Lease a Car with Bad Credit & 0 Down?

  14. While it is not impossible, it is difficult to lease a vehicle if you have a poor credit rating and no money for a down payment. Most zero-down lease offers require a healthy credit rating. But don’t worry, there are plenty of options available for car shoppers with less-than-stellar credit scores. To explore your leasing options, simply contact our financing team.

  15. What Credit Score Do I Need To Lease a Car?

  16. In general, credit score of 619 or lower is classified as “subprime”. While a subprime borrower isn’t automatically declined, a credit score lower than 619 means you will typically have to pay a higher interest rate and/or down payment. Luckily, there are various steps you can utilize to improve your credit score such as employment history, multiple loan requests, and consistent on-time payments.

  17. Is Maintenance Included With My Car Lease?

  18. Of all the benefits of leasing a car, maintenance benefits are typically the most popular. Of course, specifics may vary within specific lease contracts, but most leases will cover your leased vehicle’s normal maintenance and service needs. These include fluid and filter changes, normal tune-ups, and regularly scheduled maintenance typically do not cost the lessee anything out of pocket.

  19. May I Return My Lease Vehicle to a Different Dealership?

  20. Typically speaking, yes, you can trade in your leased vehicle at a different dealership. It must, however, be an authorized dealership for the vehicle manufacturer. It’s probably obvious, but you can’t turn a leased car into any other brand of dealership. You can, however, turn your leased MINI into any authorized MINI dealership across the nation. Again, assuming all your lease contract obligations have been fulfilled.

Request More Info About Vehicle Leasing Today

Do you have more questions about vehicle leasing, current promotions, or related topics? Then contact us today. Our team of leasing specialists are standing by to answer all your questions.

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Super Awesome service! My Cooper had to be towed to the dealership when my check engine light came on. My service tech David, really cared about helping me. From start to finish, the service was outstanding. I would completely recommend Clear Lake Mini to my family & friends.

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I found the staff courteous and professional. I am very pleased with the repair.

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This is an Executive Demo, please call for availability. *** This is an Executive Demo, please call for availability *** This is about the time when you're saying it is too good to be true, and let us be the one's to tell you, it is absolutely true. You've found the one you've been looking for. Your dream car. This is the one. Just what you've been looking for. You can finally stop searching... You've found the one you've been looking for. We look forward to seeing you soon! Please call us for more information.
 
We are excited to offer this 2020 MINI Clubman. *** This is an Executive Demo, please call for availability *** Just what you've been looking for. With quality in mind, this vehicle is the perfect addition to take home. This is about the time when you're saying it is too good to be true, and let us be the one's to tell you, it is absolutely true. You've found the one you've been looking for. Your dream car. This is the one. Just what you've been looking for. We look forward to seeing you soon! Please call us for more information.
 
We are excited to offer this 2019 MINI Hardtop 4 Door. ***This is an Executive Demo, please call for availability*** Everyone hates the gas pump. Skip a few gas stations with this super fuel efficient MINIHardtop 4 Door. Just what you've been looking for. With quality in mind, this vehicle is the perfect addition to take home. You've found the one you've been looking for. Your dream car. This is the one. Just what you've been looking for. We look forward to seeing you soon! Please call us for more information.
 
We are excited to offer this 2020 MINI Hardtop 2 Door. Everyone hates the gas pump. Skip a few gas stations with this super fuel efficient MINIHardtop 2 Door. The MINI Hardtop 2 Door Cooper S will provide you with everything you have always wanted in a car -- Quality, Reliability, and Character. Just what you've been looking for. With quality in mind, this vehicle is the perfect addition to take home. This vehicle won't last long, take it home today. We look forward to seeing you soon! Please call us for more information.
 
We are excited to offer this 2019 MINI Clubman. ***This is an Executive Demo, please call for availability***. Start enjoying more time in your new ride and less time at the gas station with this 2019 MINI Clubman. This is the one. Just what you've been looking for. This vehicle won't last long, take it home today. You could keep looking, but why? You've found the perfect vehicle right here. We look forward to seeing you soon! Please call us for more information.
 

MPG Disclaimer:

Based on model year EPA mileage ratings. Use for comparison purposes only. Your actual mileage will vary depending on how you drive and maintain your vehicle.

Disclaimer:

* While every reasonable effort is made to ensure the accuracy of this information, we are not responsible for any errors or omissions contained on these pages. Please verify any information in question with MINI of Clear Lake.

New vehicle pricing includes all offers and incentives. Tax, Title and Tags not included in vehicle prices shown and must be paid by the purchaser. While great effort is made to ensure the accuracy of the information on this site, errors do occur so please verify information with a customer service rep. This is easily done by calling us at (281) 557-7177 or by visiting us at the dealership.  Residency restrictions apply. See dealer for details.

**With approved credit. Terms may vary. Monthly payments are only estimates derived from the vehicle price with a 72 month term, 4.9% interest and 10% downpayment.

^All vehicle prices are plus tax, title, plate and dealer fees. The advertised price does not include sales tax, vehicle registration fees, finance charges, documentation charges, and any other fees required by law. We attempt to update this inventory on a regular basis. However, there can be a delay between the sale of a vehicle and the update of the inventory. Pricing and availability of vehicles not currently in dealer inventory may vary based on a variety of factors, including but not limited to options, specials, and fees. You may not qualify for the offers, incentives, discounts, or financing. MINI of Clear Lake offers, incentives, discounts, or financing are subject to expiration and other restrictions. See dealer for qualifications and complete details. All advertised vehicles are subject to actual dealer availability. Certain vehicles listed may not be available. Prices exclude state tax, title, license, and document preparation fee. Vehicle option and pricing are subject to change. Prices include all dealer rebates and dealer incentives. Please check with your dealer for more information. Images displayed may not be representative of the actual trim level of a vehicle. Colors shown are the most accurate representations available. However, due to the limitations of web and monitor color display, we cannot guarantee that the colors depicted will exactly match the color of the car. Information provided is believed accurate but all specifications, pricing, and availability must be confirmed in writing (directly) with the dealer to be binding. Neither the Dealer nor Dealer Inspire is responsible for any inaccuracies contained herein and by using this application you the customer acknowledge the foregoing and accept such terms. All vehicles priced as currently equipped. Price does not include any dealer added options that are installed after sale.

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Disclaimer:

* While every reasonable effort is made to ensure the accuracy of this information, we are not responsible for any errors or omissions contained on these pages. Please verify any information in question with MINI of Clear Lake.

New vehicle pricing includes all offers and incentives. Tax, Title and Tags not included in vehicle prices shown and must be paid by the purchaser. While great effort is made to ensure the accuracy of the information on this site, errors do occur so please verify information with a customer service rep. This is easily done by calling us at (281) 557-7177 or by visiting us at the dealership.  Residency restrictions apply. See dealer for details.

**With approved credit. Terms may vary. Monthly payments are only estimates derived from the vehicle price with a 72 month term, 4.9% interest and 10% downpayment.

^All vehicle prices are plus tax, title, plate and dealer fees. The advertised price does not include sales tax, vehicle registration fees, finance charges, documentation charges, and any other fees required by law. We attempt to update this inventory on a regular basis. However, there can be a delay between the sale of a vehicle and the update of the inventory. Pricing and availability of vehicles not currently in dealer inventory may vary based on a variety of factors, including but not limited to options, specials, and fees. You may not qualify for the offers, incentives, discounts, or financing. MINI of Clear Lake offers, incentives, discounts, or financing are subject to expiration and other restrictions. See dealer for qualifications and complete details. All advertised vehicles are subject to actual dealer availability. Certain vehicles listed may not be available. Prices exclude state tax, title, license, and document preparation fee. Vehicle option and pricing are subject to change. Prices include all dealer rebates and dealer incentives. Please check with your dealer for more information. Images displayed may not be representative of the actual trim level of a vehicle. Colors shown are the most accurate representations available. However, due to the limitations of web and monitor color display, we cannot guarantee that the colors depicted will exactly match the color of the car. Information provided is believed accurate but all specifications, pricing, and availability must be confirmed in writing (directly) with the dealer to be binding. Neither the Dealer nor Dealer Inspire is responsible for any inaccuracies contained herein and by using this application you the customer acknowledge the foregoing and accept such terms. All vehicles priced as currently equipped. Price does not include any dealer added options that are installed after sale.



Top Ten Car Lease FAQs – What is Vehicle Leasing | MINI of Clear Lake

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300 Gulf Fwy S • League City, TX 77573

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