Auto Financing in Albany, NY

Leasing With DePaula Auto Group

If you’re looking for a newer vehicle but do not want to buy it, then leasing is the right option. To some, leasing might sound odd since the driver does not outright own the car, but it can be the right move for many. If you prefer having a newer car on a consistent basis, then leasing can let you be in a new ride without having to buy one every couple of years. Leasing also works well for those who are not used to performing regular upkeep on their vehicle. A new leased car is less likely to need regular mechanic visits.

At DePaula Auto Group, we make leasing as easy as possible. We aim to have a smooth start and end to your lease. Our customer service experts will let you know well ahead of time what the expectations are when it’s time for your leased vehicle to be returned and how the lease inspection process will proceed. You can also decide to outright buy the leased vehicle if it’s won over your heart at any point during the lease or at the lease end.

Opting for an Auto Loan

You can also take out a loan if you want to buy a new car but don’t have the cash on hand. Our customer service experts can help you figure out a financial plan that is right for you so that you know the loan’s interest rate and have a set repayment plan that works for all parties involved. Getting a loan is a great option if you want to keep the car for a long time and prefer to own it.

Frequently Asked Questions About Financing

Is It Better to Lease or Take Out a Loan?

This depends on your needs. If you would prefer to keep the car for the foreseeable future, then a loan might be the better approach. If you are open to upgrading to a new car in a couple of years, then a lease will serve you better as you’ll be able to turn the vehicle in with little trouble instead of having to go the route of selling it. Plus, if you do end up liking the car, you can still retain the option of buying it.

Speaking of Selling: Can I Sell My Leased Car?

This depends on your lease agreement. Some leases let you sell your car to a buyer or dealer before your lease is up. Essentially, they will be paying the amount that you would have to pay to buy the car. Some leases allow for this option, and some do not. You will always want to review your lease or, ideally, get in contact with a customer service representative to see what is allowed based on your agreement. Try to avoid relying on what you hear or read elsewhere: always check the agreement itself.

What Is the End of Lease Inspection?

At the end of your lease, you will bring your car in for an inspection. The purpose of the inspection is to make certain that the leased vehicle has not been damaged or gone over mileage. As the returned vehicle will be sold, we want it to be in good condition. Reasonable wear and tear is acceptable, and you should always see how your lease agreement defines these terms, but lasting damage is a problem and can result in further charges. This is why you should aim to keep your car in great shape during the lease, making certain to resolve any issues the vehicle has instead of waiting until it is time to turn it in. While this results in a better vehicle at the lease end, it also means you are driving a safer vehicle. Putting off repairs because it is leased can be a dangerous decision and not just due to financial reasons. Your safety on the road should be a priority.

What Do I Do if I Want to Buy My Leased Car?

If you decide to buy your leased car, then you will proceed as if you are purchasing a car in any other circumstance. This is an easy route for all involved as the dealer will be happy to sell it to you, and you will be able to own a vehicle that you’re comfortable with in advance—no need to learn the ins and outs of a new ride. Plus, you will have already paid off the value you used while you had the lease.

Can I Take Out a Loan to Pay the Down Payment on My Lease?

Yes, but as with any loan, you want to make sure that you are knowledgeable about its repayment plan and make certain that the interest gained over time does not become overwhelming. Sometimes, it’s better to make a smaller down payment, meaning a higher monthly lease rate, instead of taking out a loan. This depends largely on your own financial circumstances, but our customer service experts and financing experts can offer you some advice.

Do Different Manufacturers Have Different Rules?

Yes. If you are leasing a vehicle, the vehicle’s manufacturer can affect the terms of the agreement. This is why it’s never wise to assume your current lease will operate the same way as a future one; manufacturers change rules over time, and no one manufacturer is the same as another. As always, you need to thoroughly review any lease agreement.

Make DePaula Auto Group Your Next Stop