Car leasing is an alternative to buying a vehicle outright. When you lease a car, you essentially rent it from a dealership for a set period, typically 2-4 years. Instead of paying the full price of the vehicle, you make monthly payments during your lease term to cover the vehicle's depreciation. Drivers in Little River, SC can explore competitive leasing options at Bell & Bell GMC.
Benefits of Leasing a Car
There are several advantages to leasing a car:
- Lower monthly payments compared to financing a vehicle purchase
- Ability to drive a new car every few years
- The vehicle is usually covered by the manufacturer's warranty during the lease period
- You may have the option to buy the car at the end of the lease
Myrtle Beach, SC residents looking for an affordable way to get behind the wheel of a new vehicle should consider leasing.
How Lease Payments are Calculated
Your monthly lease payment is based on the expected depreciation of the vehicle over the lease term, plus interest and fees. Our dealership will determine the car's residual value, which is its estimated worth at the end of the lease. Your payments will cover the difference between the car's current price and its residual value.
Lease Agreement Terms
When leasing a car, you agree to certain terms, including:
- Length of the lease (usually 24-48 months)
- Mileage limits (typically 10,000-15,000 miles per year)
- Wear and tear guidelines
- Maintenance responsibilities
Exceeding mileage limits or returning the car with excessive wear and tear may result in additional fees.
What Happens at the End of a Lease?
When your lease ends, you generally have three options:
- Return the vehicle to the dealership and walk away
- Purchase the car at its residual value
- Trade in the vehicle and start a new lease on a different car
Explore Leasing Options at Bell & Bell GMC
If you're interested in leasing a new vehicle, visit Bell & Bell GMC in Little River, SC. With a wide selection of vehicles and flexible lease terms, we make leasing easy and affordable.