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| Q:
Should I lease or buy my car? |
| A:
The simple truth is that no one can tell you the
best way to finance a vehicle without knowing
the details about how you use your vehicle now
or plan to use your vehicle in the future. |
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Q: What is a lease? |
| A:
Leasing is an agreement between you and a lender
to use a vehicle for a specified period of time,
maintain it, purchase required licenses, pay taxes,
keep insurance, and return it at the allotted
time with nothing more than normal wear and tear |
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Q: What are the advantages and disadvantages
of leasing? |
| A:
The advantages of leasing are lower monthly payments,
more vehicle for your money, little or no cash
upfront, gap insurance and possible tax benefits.
The disadvantages are no equity or ownership in
the vehicle, potential expenses for early termination,
and the possibility of lease end charges such
as excess wear and tear and excessive mileage. |
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| Q:
Does RLB Sales and Leasing accept vehicles for
trade? |
| A:
Yes. We can assist you with trading in any type
of vehicle for your new vehicle right over the
phone in most cases. |
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| Q:
Does no money down really mean that no money is
due at lease signing? |
| A:
Not necessarily. No money down usually refers
to no capital cost reduction beyond the price
of the vehicle to lower the amount financed. In
that case you would still be responsible for the
first month's payment, security deposit, acquisition
fee, sales, and luxury tax (if applicable), and
registration fees. RLB Sales and Leasing specializes
in structuring your lease with your needs and
wants in mind. We offer leases with no cap cost
reduction and can facilitate your lease with only
your first payment due at lease signing. |
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Q: What is GAP insurance and what does it cover? |
| A:
In the event of a total loss of a vehicle due
to accident or theft at any time during the lease
period, GAP insurance covers the difference or
gap between what the insurance company pays out
and what you owe the lender. GAP insurance is
included at no additional charge in every lease
facilitated by RLB Sales and Leasing. |
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| Q:
Does RLB Sales and Leasing only lease high-end
luxury cars? |
| A:
No, we can assist you with a lease on virtually
any type of vehicle both new and used. |
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| Q:
How long does the process usually take? |
| A:
We can usually have you in your new vehicle in
as little as 24 hours from approval, providing
your desired vehicle is readily available. Consult
an RLB Sales and Leasing associate for availability
of a specific vehicle. |
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| Q:
Why wouldn't I choose the lease plan that simply
gives me the lowest monthly payment? |
| A:
Typically, the lease plan with the lowest monthly
payment is the logical choice. However, if you
plan to purchase the vehicle at lease end, a program
with a higher residual value or buyout and a slightly
higher payment could be right for you. A RLB Sales
and Leasing associate will be happy to assist
you in choosing a lease that meets your specific
needs. |
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| Q:
What happens if I decide to terminate my lease
early? |
| A:
Terminating your lease before its expiration can
be costly. You are responsible for all remaining
lease payments at your intended time of termination.
In order for you to go from one car to the next
equitably you would need to find an individual
or dealer to buy your vehicle for the close out
amount at that time. In most cases the residual
value in your lease will produce a close out amount
higher than market value. It is recommended that
before you decide to enter into a vehicle lease
agreement that you are comfortable with the lease
term. As a rule, you should structure the lease
with the shortest term within your budget. |
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| Q:
How does RLB Sales and Leasing arrange for delivery
of my new vehicle? |
| A:
Generally, your new vehicle will be delivered
to you at our office. However, we can deliver
your new vehicle right to your home or office.
The cost for transportation will depend on geographic
location and will be included in your lease. |
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Q: What is a disposition fee and when is it
collected? |
| A:
Most leases contain a disposition fee charged
by the lender to cover their cost of retrieving
your vehicle at lease end. The amount, which varies
depending on the, lender is fully disclosed in
the lease contract. You will be billed the charge
after you turn in your vehicle. |
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| Q:
Does the vehicle have to be returned to RLB Sales
and Leasing upon lease termination? |
| A:
No, the disposition fee charged at lease end covers
the lenders cost for retrieving your lease vehicle
from anyone permitted to accept the lease return. |
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| Q:
What is considered excessive wear and tear? |
| A:
Most lenders will allow for a few small door dings,
scratches and chips, and interior wear that typically
occurs over the period of the lease. However,
a cracked windshield, bald tires, dents and body
damage that is not professionally repaired will
be charged back to you after you turn in your
vehicle. It is recommended that you take care
of such damage before turning in your vehicle
because the cost of such repairs will most likely
be less than what you will be charged by the lender. |
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