• Chrysler
  • Jeep

Leith Chrysler Jeep

5500 Capital Blvd
Directions Raleigh, NC 27616

  • Sales: (866) 980-1091
  • Service: (888) 615-8738
  • Parts: (888) 790-7859

Leasing FAQ



Have questions about a lease?
We have answers.

  1. What is a lease?
    A lease is simply another way to obtain a vehicle in which payments are generally lower. You also have options at the end that you don't have with a standard purchase.

  2. What is the mileage limitation on a lease?
    Leases can be set up with as many as 20,000 miles per year or more. Generally, the mileage is set lower to keep the payments lower. Depending on the vehicle you choose, there may or may not be a mileage penalty for going over.

  3. Do I have to have good credit to lease?
    Not necessarily. We use several lenders that have their own guidelines. The best way to see if you qualify is to fill out an application.

  4. How long is the lease for?
    There are various terms you can do. Often times, vehicles will have "specials" for certain terms that makes the payment more attractive for that term.

  5. Can I add equipment to my vehicle?
    Absolutely. Depending on the vehicle you choose, you may wish to remove the equipment if you turn it in. However, many vehicles such as Wrangler and Grand Cherokee models hold phenomenal resale value and, therefore, seldom get turned back in.

  6. What if I want to keep the vehicle at the end?
    You absolutely can keep it. When you sign a lease agreement, you have a stated "guaranteed future value" that you may purchase the vehicle for at the end. It's like having a pre-determined price for a pre-owned vehicle that you know everything about.

  7. Can I get out of the lease early if necessary?
    Yes. Some vehicles are easier than others to end early, but generally speaking you have a payoff similar to a regular purchase. Typically it's better to keep the vehicle until closer to the end of the lease, but it is absolutely an option.

  8. What happens if the vehicle gets totalled?
    All of our leases include built-in "gap" insurance. If your vehicle is deemed a total loss, you simply get a new one.
  1. What happens at the end of my lease?
    At the end you have 4 simple options. You either trade it, sell it, keep it or turn it in. When you make your last payment, you will have 30 days to weigh your options. If there is equity in the vehicle at the end, it's yours to keep.

  2. Why doesn't everyone lease?
    Presently we have closed-end leases. This means that you have a stated guaranteed future value on your agreement. If the vehicle isn't worth that amount and you're fine on your mileage, you can simply turn it in. If it's worth more, you can trade it, sell it or keep it. In the past there were open-end leases. That meant if the vehicle wasn't worth the value at the end, you owed the difference. The banks got rid of that type of leasing and now have the new, improved more customer-friendly version.

  3. I like to keep my car forever. Why should I lease?
    We've all had that car that we kept for a long time, and we've all also had the repair bills associated with it. By leasing, you are in a brand new vehicle for the best part of the vehicle. If you really like the vehicle, you can still keep it forever if you so desire.

  4. Is my vehicle under warranty for the term of my lease?
    Leasing is simply an agreement between you and a bank. It doesn't affect the warranty in any way. The warranty terms remain the same.

  5. Is my maintenance covered during the lease?
    We provide 4 years of oil changes on the new vehicles we sell. Other maintenance is not covered. However, if you would like to have your maintenance pre-paid, be sure to ask about our "worry-free" lease.

  6. Do I have to put money down to lease?
    Not necessarily. On a lease, the payment is paid "upfront" so when your lease is up you have time to weigh your options. So generally customers pay their first payment, taxes, tag, etc upfront. Down payment on a lease typically has a greater effect on the payment than a conventional purchase so customers often put money down to lower their payments.

Hours

  • Monday 8:30am to 8:00pm
  • Tuesday 8:30am to 8:00pm
  • Wednesday 8:30am to 8:00pm
  • Thursday 8:30am to 8:00pm
  • Friday 8:30am to 8:00pm
  • Saturday 9:00am to 7:00pm
  • Sunday 1:00pm to 5:00pm

Contact

Leith Chrysler Jeep

5500 Capital Blvd
Directions Raleigh, NC 27616

  • Sales: (866) 980-1091

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