Question 1

Doesn't leasing cost more?

Accepted Answer

When the extra sales tax and costs of unexpected vehicle depreciation are taken into account, leasing usually costs less than financing while providing a number of other benefits.

Question 2

My friend was hit with a HUGE BILL when he terminated his lease early...

Accepted Answer

Early termination on a Buy Here, Pay Here loan or standard fixed term lease can be expensive. However, Lease It, Own It offers the opportunity to return the vehicle and walk-away at any time and thus avoid ANY early termination charge.

Question 3

The salesperson told my uncle he could get out of his 36-month lease at 18 months ... but when he went back they wanted $4000 because used car values were soft!

Accepted Answer

The salesman might have been hoping that would be true, but he was wrong to guarantee it since there is no guaranteed trade-in value in a fixed term lease except at the end of the term. However, Lease It, Own It is a periodic renewal lease that doesn't bind you for any specific term so you never have an early termination cost when you want to trade or end the lease.

Question 4

Could I get hit with a huge bill for wear and tear at lease end?

Accepted Answer

Damaging the vehicle or driving excessive miles will reduce the trade-in value of a vehicle you own. You have to pay for that reduced value for excess damage or miles in a Lease It, Own It lease only if you choose to return the vehicle. If you decide to keep it or trade it in, leasing is just like purchasing.

Question 5

What if the market goes down on my car when I return it?

Accepted Answer

A major advantage of Lease It, Own It leasing is that if the used car market is down because of high gas prices or some other reason (other than your damage or excess miles), you DON'T pay for the excess depreciation when you return the vehicle. When you finance the vehicle, you are stuck with excess depreciation due to these used car market factors.

Question 6

What if my car is worth MORE than projected in the lease?

Accepted Answer

Leases offer a fixed price purchase option at lease end so if your vehicle is worth more than the purchase option price, you can capture the "equity" by trading the vehicle or purchasing it.

Question 7

Will I lose a lot of money if I put on extra mileage?

Accepted Answer

Only the amount by which your vehicle's value would decline if you owned it and wanted to trade it in.

Question 8

If I don't like the car, am I stuck in a lease?"

Accepted Answer

A Lease It, Own It lease lets you walk away at any time. Plus, you can always trade in the vehicle just like one you are financing. LIOI gives you a "guaranteed trade-in value" at any time so you are never "stuck in the lease."

CALL NOW | PH: 740.343.7071
or text us at 740.486.2162
517 W Broadway St., New Lexington, OH 43764
Lease It, Own It - No Credit Needed &
now cash sale- no financing available

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