Leasing Frequently Asked Questions
When shopping for your next new car near Amherst, NY, you have two options: you can take out a loan and purchase it or lease it. Leasing gives you the freedom to drive a new model from Northtown Automotive every couple of years and save some money along the way.
Our finance center team is here to help you decide which is the best option for you and your budget. So, browse our new inventory and give us a call and learn if leasing is beneficial for your Buffalo lifestyle. And explore other benefits of shopping at Northtown Automotive, like our Northtown Snap Delivery of your new car.
Here are some frequently asked questions about the leasing process we regularly receive at Northtown Automotive.
What are the advantages of leasing a car compared to buying?
Leasing gives you options. On the other hand, buying locks you into a particular model. Your payments are typically lower for a lease. You don't necessarily need to put a down payment for your lease. Maintenance costs are usually lower because much of your term will be covered by its warranty. As you near the end of your term, you can choose to upgrade to a new car, renew your lease, or walk away from the model.
When you buy a car, by and large, you are locked into the monthly payments until the obligations are met. After that, the car is yours to do as you wish.
How does leasing a car affect my credit score?
One of the best ways to increase your credit score is by showing you can make regular payments on time. If you can keep up with monthly lease payments in a timely manner, your credit score will improve. If you are late on payments, your credit score will eventually take a hit.
What is the duration of a typical car lease agreement?
Most lease agreements last between 24 and 36 months or two to three years.
What are the mileage limits in a car lease contract?
This number can vary, depending on the terms of your lease agreement. Typically, a lease will run between 12,000 and 15,000 miles. Talk to our leasing experts to see if you qualify for a high-mileage lease, which can cover as much as 30,000 miles.
How does early termination of a lease work?
Maybe you feel the car you have isn't the right one for you. Or you're reconsidering the leasing process altogether. There are ways to get out of your current lease. You can transfer your lease, which may require a transfer fee. It can be transferred to a family member or potential buyer.
Or you can buy out your lease and pay the remainder of the agreement. You can also trade in your vehicle and roll your monthly payments into a new car. Talk to our financing center experts to learn your best and most affordable options.
What maintenance responsibilities do I have during the lease?
If any repairs need to be made on your lease during your term, you are responsible for getting those taken care of. That being said, check your vehicle's warranty. It should cover things like oil changes, tune-ups, tire rotations, and even powertrain repairs. Regular, routine maintenance ensures the car limits wear and tear.
When you return your lease, our team will want to know that you had regular maintenance performed and that the car is in top shape.
What happens if the car is damaged or in an accident during the lease period?
In the event of an accident, you are still on the hook for payments. However, your insurance company should be able to reimburse you for payments if the car is a total loss. If you signed up for GAP insurance, that should help cover some of the costs as well.
Can I customize or modify a leased vehicle?
Your lease will, more often than not, prohibit you from modifying the vehicle. This includes features like tinting windows, applying bumper stickers, or upgrading the powertrain. To do so would be a violation of the lease.
However, you are welcome to install things like new floormats or seat covers. Or other items that can be easily removed or replaced. Remember, you will likely, ultimately, be returning the vehicle to our dealership, and someone else will be driving it.
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Northtown Automotive
Amherst, NY 14226
- Sales: 716-614-0500
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Northtown Honda
2277 Niagara Falls Blvd
Amherst, NY 14228
- Sales: (716) 243-3221
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Genesis of Buffalo
8143 Main Street
Williamsville, NY 14221
- Sales: 716-831-2900
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Northtown Resale Center
1035 Millersport Hwy
Amherst, NY 14226
- Sales: 866-650-7404
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Northtown Collision Centre
3840 Sheridan Drive
Amherst, NY 14226
- Sales: 716-614-1900
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Jaguar Buffalo
621 Getzville Rd.
Amherst, NY 14226
- Sales: (716) 831-3100
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Northtown Chrysler Dodge Jeep Ram FIAT
2020 Niagara Falls Blvd
Tonawanda, NY 14150-5545
- Sales: (716) 616-3299
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Land Rover Buffalo
621 Getzville Rd.
Amherst, NY 14226
- Sales: (716) 831-3100
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Northtown Volkswagen
3800 Sheridan Drive
Amherst, NY 14226
- Sales: 716-926-8710
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Northtown Volvo Cars Buffalo
8135 Main Street
Williamsville, NY 14221
- Sales: (716) 795-8657
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incard
1135 Millersport Highway
Amherst, NY 14226
- Sales: 716-839-4600 x 176
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Northtown Hyundai
3675 Sheridan Drive
Amherst, NY 14226
- Sales: 716-992-6536
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Northtown Kia
3900 Sheridan Drive
Amherst, NY 14226
- Sales: (716) 217-2390
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Northtown Lexus
3845 Sheridan Drive
Amherst, NY 14226
- Sales: 716-614-0500
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Northtown Mazda
3920 Sheridan Drive
Amherst, NY 14226
- Sales: 716-217-2392
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Porsche Buffalo
8135 Main St
Williamsville, NY 14221
- Sales: 716-795-8692
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Northtown Preowned
1035 Millersport Highway
Amherst, NY 14226
- Sales: 716-745-4574
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Northtown Subaru
3930 Sheridan Dr
Amherst, NY 14226
- Sales: 716-992-6547
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Northtown Toyota
1135 Millersport Highway
Amherst, NY 14226
- Sales: 716-926-4191
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Loans OK
Amherst, NY 14226
- Sales: 716-302-5123
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Loans OK Sheridan
3900 Sheridan Drive
Amherst, NY -
Loans OK Tonwanda
2020 Niagara Falls Blvd
Tonawanda, NY -
Platinum Plus
Amherst, NY
- Sales: 716-442-2839
