When you are shopping for a vehicle, you have a lot of decisions to make: the right brand, the right type and model of vehicle, and the best way to finance it. While many people choose to buy a car by paying for it outright or getting a loan, a lease is a great option for anyone who wants more freedom when it comes to what they drive. Choosing the right dealership with great Chevy lease deals ensures you not only have access to the best vehicles out there but that you can finance it in the way that is right for you.
Here at Duke Chevrolet GMC, we pride ourselves on offering fantastic Chevy vehicles with different types of financing to best meet your needs. While some people will get the most out of buying a vehicle and enjoying it for a long time, you might find that a lease gives you the kind of freedom you want when it comes to getting the most from your car. A good lease gives you a tremendous amount of flexibility and lets you continue to enjoy new cars again and again. Come visit us at Duke Chevrolet GMC to find out more, and we can discuss the impressive Chevy lease deals that we have available.
Although most people have at least heard of leasing a vehicle, not everyone has a clear sense of what it is and how it works. For a lot of people, the best way to get a new car is to find one you like at a dealership and then apply for a loan through a third-party lender like a bank to help you pay for it. The bank gives you a loan to buy the vehicle, you pay off the loan over a number of years, and at the end of that time, you take full ownership of the vehicle.
A lease works differently: you never actually buy the vehicle, and you typically do not get financing from a third-party lender. Instead, you agree to drive the vehicle for a period of time, called the lease term, and at the end of that time, you return the vehicle to a dealership. You are not buying the car; instead, you are essentially renting it for an extended period. When that term ends, you give it back. Each month, you make a payment, but instead of paying off a loan, you are paying for the depreciation that you are putting on the vehicle while you enjoy it.
When the term comes to an end, you return the vehicle, and as long as there are no issues with it, you are free to choose a new vehicle. You will have the option to buy the vehicle you have been driving at the end of the lease if you find you do not want to say goodbye to it. Otherwise, you can choose to buy a different model, simply walk away, or lease another vehicle to enjoy everything a brand-new car has to offer.
Just looking at the basics of how a lease works, it might sound like it is not the best way to drive a vehicle since you do not end up owning anything. While a lease certainly is not the right option for everyone, there are some serious advantages to choosing a Chevy lease deal over buying a car outright. Some of the benefits of leasing a Chevy include:
A lot of people utilize a leased vehicle as part of their business. For example, if you own your own business and lease a car that you drive as part of it or while going to and from work, then you may be able to write off part of your lease cost as a business expense. A lot of professionals appreciate the freedom that a lease provides while still enjoying a new car.
In many ways, the requirements to lease a Chevy are similar to those that you need to buy one: you need a driver’s license, proof of insurance, and your income and credit history will come into play. If you have good or excellent credit and a steady income, then you will likely have a lot of freedom to lease whatever Chevy you want. Even though you are not getting a loan when you choose a Chevy lease deal, your credit score still matters.
If your credit history is not great, then do not worry, as you may still be able to lease a new Chevy. While great credit gives you a lot of freedom in leasing a vehicle, less-than-ideal credit will typically limit your options rather than completely exclude you. You might not be able to choose the most expensive models, but there are still some great Chevy lease deals available to you. Making your lease payments on time can help boost your credit, so in a few years, when your term is up, you may have more freedom in choosing your next lease.
Chevy lease deals will typically cover between two and five years. You will usually see this as “24 months,” “36 months,” “48 months,” or “60 months,” so keep that in mind when looking at what is available to you. In addition to this term limit, a lease will also have limits on how many miles you can put on the vehicle each year while you enjoy the lease. This can be changed when you first agree on the terms of your lease; however, so discuss this with us to ensure you get the right combination of price and mileage limit to meet your needs.
As you can see, there are a lot of benefits and advantages that come with choosing a Chevy lease rather than buying your next car. The freedom and flexibility that a lease provides are tough to beat, and if you are interested in trying out a car for several years without committing to buying it from the start, then a lease is the perfect way to go. Leasing is a unique way of getting a new car that you will love without the long-term commitment of paying for it or figuring out how to sell it after you are done.
If you are not sure that a lease is right for you, then come talk to us, and we will explore all of your options to help you determine the best way to finance your next vehicle. Leasing is not always for everyone, but some people may find that leasing is better for their wants and needs than buying. Here at Duke Chevrolet GMC, we are ready to help you with everything you need to make sure you drive away in the perfect vehicle with the right financing, whether you are looking to lease or buy.