Car Leasing FAQs


Why lease instead of buy?

Leasing vs. purchasing a vehicle is an attractive option for many reasons. First and foremost, your monthly payment will be lower than it would be if you purchased (financed) a vehicle. It’s also a great option if you don’t drive excessively since most car leases require you to keep annual mileage under 10,000 to 12,000. Last but not least, if you enjoy getting a new vehicle every few years, leasing is the most affordable way to go.

How is leasing different from purchasing?

When you lease a vehicle, you’re essentially renting it long-term (usually 24 or 36 months) which means at some point you will have to turn it back in. The monthly payments you make on the leased car go towards the usage of the vehicle as well as the depreciation of the vehicle’s value. When you purchase a car, it is yours to keep as long as you are making the payments or have paid off the balance. With a lease, you return the vehicle at the end of the lease term just as you would a rental car.

When do I have to turn in my leased car?

The most common time to turn in a leased car is near the end of the maturity date, usually 30 days prior. However, it is possible to turn it in early if you are ready to purchase a new vehicle that better fits your needs. Each situation is different so you should check with your lease company and/or your dealership to see if you would incur any fees by turning in the vehicle before the maturity date.

Should I purchase my leased car?

Purchasing the vehicle at the end of your lease term is certainly an option, especially if you’ve grown attached to it. It might also be a good option if you’ve far exceeded the mileage limit or if it shows a lot of wear and tear. Things to consider before buying out your lease is the condition of the car, both mechanically and aesthetically, and the value of the car. You can determine the value by comparing the residual amount/buyout amount from your lease with the trade-in value of the vehicle. If the buyout amount is higher than the trade-in value, it would be wiser not to buy the leased vehicle.

Will I get charged for dings or stains?

A reasonable amount of wear and tear is expected when you return the leased vehicle. However, if it shows excessive wear and tear or if it is over the mileage limit, you will incur extra charges when you turn it in at the end of your lease term.

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9900 Pleasant Street • Noblesville, IN 46060

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Kahlo Chrysler Dodge Jeep Ram

9900 Pleasant Street Noblesville, IN

Phone: (833) 663-5048

http://maps.google.com/?q=9900%20Pleasant%20Street%2C%20Noblesville%2C%20IN%2046

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9900 Pleasant Street Noblesville, IN

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9900 Pleasant Street Noblesville, IN

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9900 Pleasant Street Noblesville, IN

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9900 Pleasant Street Noblesville, IN

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9900 Pleasant Street Noblesville, IN
40.0402787 -85.9934791
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Kahlo Chrysler Dodge Jeep Ram
Kahlo Chrysler Dodge Jeep Ram
9900 Pleasant Street
Noblesville, IN, 46060 United States
(833) 663-5048
https://www.hellokahlo.com/wp-content/themes/DealerInspireDealerTheme/images/logo.png
Kahlo Chrysler Dodge Jeep Ram 40.0402787, -85.9934791.