If you’re thinking about a MINI Cooper lease but you have never leased a vehicle before, you probably have some questions. This guide aims to answer the most common leasing questions we get from our clients at Fields MINI of Glencoe, so you can make an informed decision before committing to a new MINI car.
Can I Only Lease Certain Types of Vehicles?
One big misconception about leasing is that this is only an option for a new car. This isn’t true, as you’ll be able to also lease a pre-owned or Certified Pre-Owned vehicle.
How Long is an Auto Lease?
It will be up to you to decide for how long you want to lease your vehicle. Typically, these start at 24 months and go up to 60 months.
Do I Need a Down Payment?
Unlike financing, leasing doesn’t involve a down payment. However, there will be some initial fees you will have to pay.
What Do I Do When the Lease Ends?
A great thing about leasing is that it gives you lots of options. When the lease expires, you can simply return the car to the dealership. Or, you could sign a new agreement to keep leasing the same vehicle. If you like, you could start leasing a newer model or a completely different type of car.
Will I Have the Option to Buy the Car?
If at the end of the lease, you decide that you want to own the car, you will be able to do it. Depending on its value, you may be able to pay for it completely immediately. If not, you will then need to start the financing process, which involves applying for a loan.
Learn More at MINI of Glencoe Near Chicago, IL
If you need any other leasing questions answered, just get in touch with MINI of Glencoe. You can also complete the entire leasing process online or over the phone and have your vehicle delivered to your home. Contact us today!
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