Auto Leasing Returns to Buffalo in a Big Way.

“What’s My Lease Payment”? Buffalo Customers Are Asking Again.

Buffalo Car Dealers are Leasing AgainWhen the recession began in 2008, leasing a car became harder and harder to do. This left some of our customer looking at different options, such as used cars and less expensive cars, when their lease expired.

Lately we have seen the Car Manufacturers like Toyota, Honda and Ford leasing cars again. As they slowly return to the table with some really inexpensive lease deals, we thought this would be a good time to talk about the benefits of leasing as it compares to buying a car.

What is an Auto Lease?

Auto leasing is based on the concept that you pay for the amount by which a vehicle's value depreciates during the time you're driving it. Depreciation is the difference between a vehicle's original value and its value at lease-end (residual value), and is what determines your lease payment. 

Example: If you look at two cars, both costing $30,000 when new, where one is worth $15,000 after two years and the other worth only $18,000, the second car will cost less to lease it is worth more at the end.

How Do You Know You're Getting a Good Lease Payment?

Every month, car lease specials are advertised with eye-popping low payments to entice buyers to lease their car. Most times these advertised specials represent a genuine good deal but you should know all the facts before you sign that lease contract.

What to Look for When Leasing a Car

1. What is the lease payment?
   This is how much you will pay each month on your lease.
2. How Long is the Auto Lease For?
   This is how many months your lease is for.
3. How Many Miles do I get to drive the Car For?
   in most cases you get 10,000 or 12,000 miles, but if you think you will drive more, you can ask for more miles up-front.
4. What happens if I go over the miles?
   there is a cents per mile charge, usually 15 cents. If you find yourself getting close, because in some cases it is better to terminate the Lease Early
5. How much should I put down?
   The more you put down the lower your lease payment will be.
6. Do I have to pay sales tax?
   Most leases are based on you paying the sales tax up front, but you can include the sales tax in your payment.

I personally have leased many cars and trucks over the past years, and am really excited to see the programs on leasing getting affordable again.

Here are some examples of leases with $1,000 down plus tax, so you can see if leasing is for you.