A great new Dodge lease is just one of the reasons you’ll want to make Brunswick Auto Mart the dealership you trust. We’re also here to help make the financing process as smooth and easy as possible, so you can find the right vehicle for your budget every time.
Common Lease Terms to Know
There are many benefits to leasing a vehicle, like access to the latest cars on the market, lower down payments and monthly payments, and ease of trade-in, but it’s important to find the right lease terms for your needs. Familiarizing yourself with common lease and financing vocabulary can help. Here are a few words to learn:
Term: Term refers to the length of the lease, or how long the vehicle will be in your possession. Leases are usually between two to five years, or 24-60 months.
MSRP: MSRP stands for manufacturer suggested retail price. You can negotiate the cost of your lease, but many dealerships will begin with MSRP as a basepoint.
Allowable Mileage: There are a few main differences between leasing and purchasing a car, including the mileage. Most dealerships will set around 12,000 miles per year as the allowable mileage, with costs for overages. Allowable mileage can be negotiated.
Early Termination: If you’ve decided you want to return your lease early, you may have early termination fees and costs. You also may need to pay off the remaining cost of the lease, so always consider the length of your lease carefully.
Sales Tax: The sales tax on a new vehicle can be costly, which is one reason to consider a lease. You’ll only pay sales tax on the amount of the car’s value you’re using, usually between 8-10%.
For more information on the Dodge leasing process and to find the right new Dodge vehicle for your driving needs, schedule a test drive at Brunswick Auto Mart today.
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