How Long Are Car Leases?

Many Oshkosh customers love the flexibility and convenience of a car lease for its short-term duration, but just how long are car leases? Most leases last between two and four years on average, but the lease term will depend on a number of variables. Find out everything that you need to know about car lease length with Holiday Automotive, and start looking at the latest lease deals in Fond du Lac.

How Does Leasing a Car Work?

When you lease a car, you choose a specific amount of time to take care of that car. You may choose a 6-month car lease or a short-term car lease, but regardless of the car lease length, your contract will have a time limit. At the end of the term, you can turn in your vehicle or buy it for the residual value – or the projected value at the end of the lease term.

Is Leasing a Good Choice for Me?

Why would you choose leasing over financing? While there’s no right or wrong choice, many Sheboygan drivers ultimately choose leasing for a variety of reasons:

• If you want to keep your car for 6 years or less, it can be cheaper to lease instead of financing.
• If you prefer to try out the newest designs and technologies, you can upgrade your car more frequently with a short term car lease without the hassle of reselling.
• If you want to keep your options open, leasing is a great choice. You can turn your car in, trade it in, or buy it out at the end of your contract – or you can even do early buy-outs and trade-ins!
• If you’re leasing a company car, you could write off any expense(s) related to the lease associated with your business.

What are the Steps to Leasing a Car?

Leasing a car in West Bend is simple as long as you do your research. Here are the basic steps to leasing:

• Find a car that’s right for you. Maybe that’s a fuel-efficient commuter car, maybe it’s a family-friendly SUV. Peruse our new vehicle inventory for inspiration.
• Determine how many miles you’ll need. Your leasing deal will include mileage limits, so err on the higher side. Common mileages are 10,000, 12,000, and 15,000 miles
• Pick your car lease length. This can vary based on your needs and budget. Common lengths are 24, 36, 39, 42, and 48 months.
• Determine your down payment. More down payment means lower monthly payments on average.
• Apply for credit. You will complete a credit application just the same as applying for financing.

What Car Lease Length Should I Choose?

Your financial advisor at the dealership will help you determine the best car lease length for your needs. For example, a 36-month lease can be a great option for many drivers because that often coincides with the length of your warranty. That means you’ll get the financial benefits of bumper-to-bumper coverage while also benefiting from a lower monthly payment from your lease. However, sometimes a longer car lease length will be less expensive than a short-term car lease.

Find Out More with Holiday Automotive

Now you know how long are car leases on average, but what’s the right plan for you? Find out by contacting us at Holiday Automotive. Our finance department will give you customized advice to help you make the best decisions for your needs and budget.