How to Lease a Car in Red Wing

How does leasing a car work? What credit score do you need to lease a car? What is a lease term? Does leasing a car affect your credit score? If you’re interested in learning how to lease a car in Prescott or Red Wing, the team at Red Wing Chevrolet has laid out everything you need to know to get started. Our guide covers what to expect, what to take care of during your lease, and how to prepare for the end of your leasing contract. We want your next upgrade to be your best yet, so don’t hesitate to reach out with any questions regarding Chevy leasing. You’re also encouraged to view our Chevrolet special offers on leasing and financing.
 

Getting Started: How To Lease a Chevy

 

When leasing a truck or car, you are essentially paying for the use of a vehicle for a predetermined period. Your leasing cost depends on how long you have the vehicle in your possession. The following list outlines the process in detail, answering the question: How does leasing a car work?

1. When leasing a truck, or preparing for any Chevy Buick leasing, you select your vehicle and go over the lease terms with our finance department. Stated in black and white is the set mileage allotted for the vehicle during the given lease period.
2. All leases require you to stay within these set mileage limits. Going over this limit will result in additional charges, so plan accordingly. Calculate the number of miles you spend on commuting each year, and figure out how much leftover wiggle room you have. Leasing a truck or car is usually less expensive than financing a model you intend to purchase. However, it’s still a good idea to explore available offers and incentives before you sign on the dotted line.
3. During the lease term, you will be responsible for completing scheduled maintenance. You’ll also need to stay within your mileage limit and keep the vehicle as close to factory condition as possible. Our service department at Red Wing Chevrolet can complete all necessary maintenance work, so you can continue to rely on our team long after you’ve driven off the lot.

What Kind of Car Lease Terms Are Offered in Red Wing?

 

What is a lease term? Simply put, a lease term is the length of time you have to lease the vehicle. Leasing companies will offer varying lease terms, and your eligibility will depend upon your credit score. Car lease terms tend to range from 24 months to 48 months. The average lease term for a car is 36 months.

How Does Leasing a Car Work When the Agreement Is Over?

 

Before your lease draws to a close, contact our dealership and find out exactly what you’ll need to satisfy the rules regarding the return of your Chevy Buick leasing period. It’s smart to do this well in advance since you’ll need to schedule a pre-inspection before you turn in the vehicle.

There are several options to consider at the end of your term:

• Return your leased car and pick out a new vehicle.
• Extend your current lease.
• Buy the vehicle that you’ve been leasing.
• Return the vehicle and go a completely different route (financing a new or used model, etc.)

If you intend to return the vehicle and lease a new car, let us know early on, so we can have the new vehicle ready for you on the day of your lease return! You’ll also need to take the following steps:

• Take care of any issues that were discovered during your pre-inspection, or risk charges for excess wear and tear.
• Certify your vehicle’s current mileage.
• Clean the vehicle and wipe your information from the information and entertainment systems.
• Bring your lease paperwork, along with any records that show when and where you scheduled service.

Car Leasing in Red Wing: Commonly Asked Questions

If you are new to leasing, you may have a few questions you’ll want answered before you head down to our dealership in Red Wing. Review the following:

• Is it Better to Buy or Lease a Car? It depends on your budget and your personal preferences. Car leases come with mileage restrictions, so If you expect to rack up a lot of miles on the roads in and around Cannon Falls it is probably best to buy. However, if you can stay within the mileage limits and look forward to upgrading to a new lease every few years, leasing a Chevy or Buick at Red Wing Chevrolet could be a smart move.
• How Much Does It Cost to Lease a Car? When you lease a vehicle you are essentially renting it for a predetermined amount of years and miles. Lease rates vary depending on the car lease terms and what is offered at the dealership. The monthly lease payment amount will depend on how much of a down payment you can afford—the more you can put down upfront, the less your monthly payment will be. There are also zero down lease offers that may be appealing to you. That being said, the average monthly car lease payment in the U.S. is around $516. You should note that Red Wing Chevrolet is always offering finance and lease specials, so you’re sure to find the car lease terms that will best suit your lifestyle and budget when you shop with us.
• What Credit Score Do You Need to Lease a Car? A good credit score that is above 619 will definitely make it easier for you to secure a lease with affordable monthly payments with lower interest rates. You may still be able to lease a car if your current credit rating is less than ideal, but you could wind up having to pay a higher interest rate and make a larger down payment.
• Does Leasing a Car Affect Your Credit Score? When you apply for a car lease the lessor will perform a “hard inquiry” which can temporarily lower your credit score. This is common and isn’t an issue for most people. The good news is that by keeping up to date with your lease payments you will continue to improve your credit score and strengthen your overall credit rating.
• Can I Return My Leased Chevy to Any Dealership? Yes, even if you leased your Chevy at a different dealership, you can return it to Red Wing Chevrolet.

Lease a Car Today at Red Wing Chevrolet

Now that we’ve answered the question, “How does leasing a car work?” you can move forward with confidence. Do you currently own a vehicle around Zumbrota? If you’re getting ready to lease a new model, you can trade in your old model to reduce your monthly payments. You can also shop from the comfort of your Red Wing-area home for the exact vehicle you’ve been searching for. Give us a call at (651) 347-4666 and let the experts in our finance department get you started on your next vehicle today!