GRAND PRIX MOTORS, INC IS NOT A LICENSED NEW MOTOR VEHICLE DEALER. GRAND PRIX MOTORS INC, IS AN AUTOMOBILE BROKERAGE FIRM AND A USED CAR DEALERSHIP LICENSED AND BONDED IN THE STATE OF NEW YORK. FACILITY ID NO. 7124382. NO WARRANTY REPAIR SERVICES WILL BE PROVIDED. ALL NEW BROKERED VEHICLES ARE COVERED BY MANUFACTURER WARRANTY. GRAND PRIX MOTORS, INC DOES NOT CHARGE ANY FEES FOR ITS SERVICES.
Leasing is essentially a short-term “rental” contract for a new car, typically lasting from 2 to 5 years. You make monthly payments based on factors like vehicle model, down payment, credit score, and other fees. At the end of the lease, the vehicle is returned to the leasing company.
Leasing offers lower monthly payments, the chance to drive a new car every few years, and minimal maintenance costs since most issues are covered by warranty. However, unlike buying, you won’t own the vehicle at the end of the lease.
When your lease ends, you return the vehicle, typically with a fair “wear and tear” check. If you’d like to lease or buy a new car, this can often be arranged during the return process.
Yes, some leases offer a “$0 down” or “sign-and-drive” option, meaning no upfront costs. However, this option might increase your monthly payments as the total lease cost is spread out over the lease term.
Most leases have penalties for early termination, but some companies offer flexible options. If you’re considering ending a lease early, contact your leasing company to discuss alternatives.
Yes, many companies allow trade-ins, even mid-lease, depending on terms and the vehicle’s value. This can help you transition into a different model without a lengthy process.
Yes, leasing is possible with a lower credit score, but you may face higher payments or a larger down payment. Generally, a credit score of 620 or above is preferred for the best rates, but options are available for those with lower scores.
Yes, but you may need a co-signer with good credit. Students or young drivers without a credit history can often lease a car with a parent or guardian as a co-signer.
Yes, non-residents can lease a car. You’ll typically need to provide additional documentation, like a valid visa or a Green Card, as well as meet specific state requirements.
With a zero-down lease, your total lease cost is spread across your monthly payments, so they’ll be slightly higher. This option can be convenient if you want to minimize upfront expenses.
Monthly payments are influenced by the car model, down payment, mileage allowance, credit score, fees, and taxes. Premium models or additional features may also increase the cost.
Yes, leasing often includes fees like acquisition fees, disposition fees, taxes, and possibly excess mileage charges. Reviewing all costs with your leasing company before signing is essential.
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