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 Auto Lease Advantages                                                                                                

How Does Auto Option Leasing Work?

Learn commonly used terms in the Auto Lease Glossary

Auto Leasing Has These Advantages...

 

	For the same car, same price, same term, and same down payment, monthly lease expenses will always be 30%-60% lower than loan payments. This is still true even when compared to 0% loans. *See comparison chart below
	No down payment, low initial cash outlay
	Leasing gives you the flexibility to drive a more expensive car for less money
	Leasing means you buy only the portion of the car that you use
	Sales tax is paid only on the portion of the car you use and can be paid over the term of the lease
	Less money spent on automobile expense means you have more money available for other purchases or investments
	With an Auto Options™ Lease, you leave the negotiating to us

*0% Loans vs. Leasing vs. Conventional Loan

Comparison Chart

*There is no down payment required for the lease of a vehicle.  However, a small deposit is typically requested. 

How Does Auto Option™ Leasing Work?

Contact Our Leasing Professional

Make an appointment to have a conversation with our seasoned auto leasing professional. He will guide you through all the steps necessary to acquire your vehicle and answers any questions you may have. 

Complete a Credit Application

The credit application approval process is quick and easy. Simply come into the Credit Union and fill out the credit application.  Our qualified staff is there to assist you when you need it.

Tell Us What You Want

 Our Lease Program Director completes a worksheet detailing the make and model, interior and exterior color, and any features, options, or accessories you may want for your new vehicle.  This information is then used to locate the vehicle you desire.  It's all about you!

Negotiate a Purchase Price

The Auto Option™ Lease process is hassle-free.  You never have to haggle with the auto dealer to arrive at a purchase price.  With Auto Option™ you leave the negotiating in our hands.  Auto Option™ has access to hundreds of dealers and is able to shop around to find the vehicle you want at the best possible price.

Sign the Lease

Once a vehicle is located to your satisfaction, arrangement is made for delivery. When you sign a lease contract you agree to make regular monthly payments, maintain appropriate insurance, pay vehicle taxes and licensing fees as applicable, and take good care of the vehicle for the specified term of the lease.  Now you are on your way. Happy driving!

End the Lease

You must keep your vehicle for the entire term of the lease.  When the lease ends you have the choice of returning the vehicle to the leasing company or purchasing the vehicle.  Here's  how it works...

Return of Vehicle - Your returned vehicle must show only normal wear and tear and the mileage driven by you must be within the limits specified in your contract.  This is important to avoid having to pay for damage or extra mileage charges.  It is possible you may be able to use the car as a trade-in on a new vehicle. Otherwise, you can simply return the car and walk away.

Purchase of Vehicle - You have the option to purchase your vehicle at lease-end for a price established at the inception of the lease.  Once payment is made...the car is yours.

Now that you have an idea about what to expect when you enter into an auto lease...call for an appointment and get the ball rolling.  The car you've been dreaming about may be closer than you think! Call Today - 718-356-1616

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Copyright © 2004 Division 726 Federal Credit Union
Last modified: 01/24/07