How Does a Lease Work?

If you’re in the market for a new vehicle and are a wise consumer, you have probably at least heard about leasing. It used to be a common cliche that individuals should avoid leasing because it isn’t a great deal. This notion has subsided over time because leasing deals are more transparent today and have more benefits.

Are you considering a Cadillac lease a Plainfield dealership has to offer but not sure if you want to go through with it? Here are some things you should know about leasing.

No Loans
When you lease, you and the dealership agree on a monthly payment. This payment is usually for a 36- or a 45-month lease. You are responsible for this payment for the duration that you drive the car. At the end of the term, you return the car to the dealership. You may also have the option to pay the remaining value and return it if you want.

Warranty
Leased cars are new models. This means they are covered by all of the factory and dealership warranties that cars purchased with loans are. Many lessees favor this option because they know they won’t have any headaches when it comes to having to take the car back to a dealership when they need repairs for their Cadillac lease in Plainfield. You will probably get a couple of free oil changes included with the lease as well.

Mileage Cap
Leases are ideal situations for those that don’t drive a lot. Each lease will have a mileage cap per year that you must stay under. If you go over, however, it’s not the end of the world. You will just have to a small fee per mile to pay when you return the vehicle.

Call Hawk Cadillac of Joliet today or visit the website at HawkCadillac.com for more details.

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