Until recently, leasing has not been a widespread option in the mobility industry, so many users may not know exactly how it works. When you lease a vehicle, you are signing a contract with the manufacturer that allows you the use of a vehicle for a specified time period and for a predetermined amount of miles, not unlike a long term rental. Once the lease period is over, you return the vehicle to the dealership. With recent growth in the mobility industry and through the efforts of dealers and manufacturers, leasing is becoming a more tangible option for consumers.
Leasing can be a great option for buyers who use their mobility vehicle periodically. The lease terms will clearly display the number of miles you can put on the vehicle, and if it works for your lifestyle you can save thousands of dollars over the life of the lease. That is because lease terms typically cost significantly less than financing a vehicle, and unlike financing your upfront costs are significantly lower too as they typically do not require as significant of a down payment as vehicle loans. Finally, leases usually run parallel to the vehicle’s warranty period, meaning that you will not have any surprise vehicle repair costs as any unexpected repairs should be covered.
If leasing sounds like it would fit with your lifestyle, you are probably wondering how to learn more about them. The best way is to speak with your local mobility dealership, they can help you discover what leasing options exist and what will work best for you.