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What is a Lease?

A car lease is a popular type of auto financing that allows you to “rent” a car from Holiday Automotive for a set length of time and amount of miles. You’ll typically make monthly lease payments on a vehicle, and in exchange the dealer allows you to drive it. But when the lease ends, you won’t own the car — unless the lease contract gives you the option to purchase the vehicle.

Car dealer giving car key to buyer

What is a Leased Vehicle?

When you lease a vehicle, you are, in essence, renting the vehicle for a set period of time. When the terms of the lease are complete, you have a few options. In some cases, you have the opportunity to buy out the lease if you have fallen in love with the vehicle, or you can simply return the vehicle to the dealership and select something new entirely.

Keep in mind that when you lease, you must stay within the set mileage limits. Otherwise, you can be charged for excess wear and tear on the vehicle.

You now know the answer to, “What does leasing a car mean?” Now let’s take a closer look at the advantages of leasing.

Benefits of Leasing a Car

While financing may be a better option for those who do a lot of driving or those who want to customize their vehicles, there are several attractive reasons to consider leasing.

  • Generally, your monthly payments will be lower when you lease compared to traditional financing.
  • Leasing allows you to get behind the wheel of a brand new vehicle with all the latest bells and whistles every couple of years.
  • You do not have to deal with the hassle of selling your vehicle when you are looking to upgrade.
  • In most cases, your vehicle is covered by a warranty for the entire duration of the lease. That means you never have to worry about being responsible for out of pocket expenses for covered components.

Contact Holiday Automotive for More Information

If you believe that leasing is the best option for your driving needs and budget, reach out to the team at Holiday Automotive. We will help you find a vehicle that checks all of the boxes on your wishlist without going over your budget. Our finance experts will then help you secure a lease with affordable monthly payments.

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