FAQ About The Car Leasing Process
When shopping for a new car lease, it’s completely normal to get lost in the auto leasing process. If you are feeling overwhelmed by how an auto lease works, D&M is here to make sure your leasing process is simple and easy. If you’re seeking out the answers to our most frequently asked questions, continue reading to help you go into your next auto lease with confidence!
How does an auto lease work?
When leasing a car, consumers sign a contract with the set amount of time they would prefer their lease to be. Leasing an auto mobile allows you to drive a vehicle for a fixed number of miles and months. When leasing a car, there isn’t a long-term commitment involved. Typically, leasing a car has a lower monthly cost than what you’d pay if you decided to buy a car.
Is it easier to lease or buy a car?
At D&M, we make sure to make your leasing process simple and easy. We offer the EZ Lease which is an exclusive, customizable, and user-friendly experience for our customers. The EZ lease provides our customers better rates and more flexibility than the leading competitors’ leases. An EZ Lease, customized to your particular needs and driving profile, is professionally managed by D&M.
What does MSRP mean?
MSRP stands for, Manufacturer’s suggested retail price. This is the suggested price recommended by the manufacturer for the sale of an item in all retail outlets. Typically, cars do not actually sell for the price that is originally displayed by the auto mobile company. When speaking about the MSRP of a vehicle, this transitions to the negotiation phase of the purchasing or leasing your vehicle.
What is residual value and why is it important?
The residual value of a leased car is what the car is expected to be worth at the end of your lease. If you’re interested in leasing an auto mobile for a short amount of time, vehicles that have a high residual value are your best bet. When choosing your auto mobile, if it retains more of its value the depreciation amount will begin to decrease, ultimately lowering your monthly payments!
What does capitalized cost mean?
Capital cost refers to the amount that is being financed on a lease. This can include tax, title and license fees or sometimes negative equity from a traded vehicle is rolled in. The lower your capitalized cost is, the lower the monthly lease payment will be.
Can I Terminate my Lease Early?
Here at D&M, we do not penalize our customers if you decide to opt out of your lease. At D&M, our EZ Lease program includes flexibility that can make terminating your lease simple and easy.
Can I Have Two Car Leases under One Name?
Absolutely! With qualified credit, there are no restrictions on the number of cars a person can register under their name at any given time. You can get personal car leases for your family on new and used vehicles. D&M offers a Commercial Lease for access to a variety of fleet vehicles to meet your business needs.
How much will my down payment be?
At D&M if our customers qualify, they have the option of making no down payment with no payments for the first 90 days using our EZ Lease. We have the experience to custom fit whatever plan works best for you.
Our D&M representatives are known for their exceptionally friendly, local, professional service. Nearly seventy percent of our business comes from repeat or referred clients. Feel free to fill out our online quote form to get started on your auto-leasing journey today!