3 Common Misconceptions About a GMC Lease

If you are looking for a new GMC vehicle, you’ve probably debated the question at some point: financing or a GMC lease? If you have never leased a vehicle before, you may have some reservations, as misconceptions are widespread. Here Lester Glenn GMC tackles three common fallacies about the GMC lease process.

Leasing Is Complicated

Leasing may seem confusing if you’re unfamiliar with it, but it’s actually fairly simple. The easiest way to look at a lease is as a sort of long-term rental. Basically, you pick out your car, determine how long you want to lease it for – two years, for example – pay the upfront fees, and then drive home. At the end of your lease, you’ll have the option to return the vehicle and walk away, lease a new vehicle, or buy out your leased vehicle.

Leasing Is Expensive

Many people decide not to lease a car because they think that it’s pricey. However, financing is generally more expensive, because your monthly payments reflect the full value of the vehicle. With leasing, on the other hand, you’re only paying for its value over the course of the lease agreement. Leasing also typically doesn’t require as big of a down payment as you’d need with financing. Trading in a vehicle to put toward your lease can help cut the costs even further.

Leasing Is Too Restrictive

When you lease a new GMC model, it is important to remember that you don’t own it. As such, there will be restrictions, but these aren’t as draconic as many people make them out to be. You’ll need to keep it in good condition for when you return it to the dealership, for example. However, this excludes wear and tear, and lease terms often include complimentary maintenance at the dealership. There are also mileage restrictions – usually around 15,000 miles a year – but you can opt for a high mileage lease if you see yourself going over that limit.

Get All of Your GMC Lease Questions Answered in Toms River, NJ

Any other concerns or questions about leasing? Get in touch with our GMC dealership in Toms River, NJ, to speak to one of our sales professionals. Our GMC finance team can also let you know about current GMC lease offers and how to get the leasing process started.