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Are you considering leasing a vehicle but unsure about the ins and outs of the process? At Bill Jacobs, we believe in providing our customers with accurate information and helping them make informed decisions. To clear up any misconceptions, we have compiled a list of the top 10 myths surrounding auto leasing. Let’s debunk these misconceptions together!
1. “Leasing is more expensive than buying.” Contrary to popular belief, leasing often offers lower monthly payments compared to financing a new vehicle. With a lease, you’re only paying for the vehicle’s depreciation during your lease term, not the entire cost.
2. “Leasing means I don’t own the car.” While you don’t own the vehicle outright, leasing provides you with the flexibility to enjoy a new car every few years without the long-term commitment of ownership.
3. “Leasing is only for business owners.” Leasing is available to individuals and businesses alike. It offers the same benefits to both, such as lower monthly payments and the ability to drive the latest models.
4. “Leasing requires a large down payment.” Leasing typically requires a lower upfront cost compared to financing. You may have the option to customize your lease terms and adjust the down payment to fit your budget.
5. “I’ll be charged for every scratch or wear on the vehicle.” Reasonable wear and tear are generally accepted when returning a leased vehicle. Understand the specific guidelines outlined in your lease agreement to ensure a worry-free experience.
6. “I’m limited on mileage with a lease.” While leases often have mileage limits, you can choose a mileage package that aligns with your driving needs. Additionally, some leases offer flexibility to purchase additional mileage if necessary.
7. “I can’t customize a leased vehicle.” Many leases allow for customization options within reason. Check with your dealer to learn about customization options that won’t impact the vehicle’s value.
8. “I’m stuck with the lease until the end.” Although leases are typically for a fixed term, options such as lease transfers or early lease terminations may be available. Discuss these options with your dealer to explore possibilities.
9. “Leasing doesn’t build equity.” While leasing doesn’t build equity like financing, it provides the opportunity to enjoy a new vehicle and the latest technology every few years.
10. “Leasing is complicated.” Leasing is a straightforward process with the right guidance. Our experienced team will guide you through each step, ensuring clarity and transparency throughout.
Now that we’ve debunked these common misconceptions, you can make an informed decision about leasing a vehicle. At Bill Jacobs, we’re here to help you navigate the leasing process and find the perfect vehicle that suits your lifestyle and budget.
Visit our dealership or explore our website to learn more about the benefits of leasing and discover our wide selection of top-quality vehicles. Experience the freedom, flexibility, and affordability of leasing with Bill Jacobs.
Contact us today any one of our dealerships in Naperville or Hinsdale to learn more about leasing your next vehicle with us.
Bill Jacobs – Driving Excellence Since 1955.
Whether you are looking to lease a BMW, MINI, Land Rover, Jaguar or Volkswagen, let Bill Jacobs help. Our dealerships have been assisting drivers in the Chicagoland area for nearly 70 years and we are experts in luxury auto leasing. When considering leasing a vehicle, you should consult experts who can help you make the best possible decision.