Your Guide to Leasing a New Vehicle

Are you ready to get behind the wheel of a new General Motors model but are unsure if leasing is right for you? At Banks Autos, we will walk you through every step of the leasing process, making the transaction straightforward and simple from start to finish. Leasing a new vehicle from us lets you drive the newest Chevrolet, GMC, or Buick model that has the latest tech, capabilities, and amenities.

Here is a closer look at how leasing from Banks Autos works, the benefits of leasing, and reasons why you should lease a GM model from our GM dealership in Concord, New Hampshire.

How does leasing a GM vehicle work?

You essentially “borrow” or “rent” a new vehicle for a set period of time when you lease from Banks Autos. Lease agreements typically range from 36-48 months. When the lease agreement is up, you need to bring the vehicle back to our dealership. At that time, you can decide if you want to buy it to continue driving it or lease a different GM vehicle.

How much money you pay each month to have your leased vehicle incorporates factors such as the sale price, lease term, the mileage agreement, residual value, interest or rent charge, fees, and taxes.

Lease agreements do come with mileage restrictions. If you exceed the mileage restrictions, you’ll have to pay extra when you turn in the vehicle. If there is any damage to the vehicle, you’ll be charged extra.

Benefits of leasing instead of buying a car

Save money

If you want lower monthly payments but still want to drive the latest GM models with cutting-edge features and tech, leasing is the way to go.

Because you will only have a leased vehicle for certain period of time (36-48 months), you don’t pay based on the vehicle’s total value or purchase price. You’re just covering the depreciation in value during your lease term plus required finance charges and taxes. Typically, you will also put less money down when leasing a vehicle compared to when you’re purchasing a vehicle, since you’ll be returning the vehicle when the lease ends.

Leasing a fresh, un-driven Chevy or Buick will often keep you out of the service garage paying for expensive repairs or maintenance checks. If your leased car does need work, most of it is typically backed by the manufacturer’s new-car warranty so you’re only paying for regular maintenance.

Although the vehicle is often worry-free regarding repairs, don’t neglect recommended maintenance such as oil changes. This service, as well as other scheduled maintenance, helps your vehicle run as well as it should. If you want to avoid additional fines when you return your leased vehicle, you need to keep it in tiptop shape.

If you are a business owner and using the leased vehicle for business purposes, you may even receive substantial tax breaks.

Latest tech, amenities, and features

Leasing a vehicle from Banks Autos will put you in the driver’s seat of the latest GM models on the market. This means you will have access to the most modern technologies for safety, comfort, and entertainment — which you may not be able to afford had you purchased the same vehicle.

Technology progresses so fast that leasing a vehicle allows you to keep up with the times. If tech like a blind spot monitoring system or automatic parking system is important to you, leasing is an affordable path to innovative technologies.

In fact, due to lower monthly payments for a leased vehicle, you may be able to upgrade to a more expensive trim that delivers more exceptional amenities that bolster your driving enjoyment.

Make changes easy

Since lease terms are typically short compared to the time you’d keep a car you purchased, you can easily switch out your vehicle to fit your changing lifestyle.

Perhaps you leased a sedan first, but now you need a vehicle with more space to accommodate new members of your family. Switching to a larger vehicle at the end of your lease is easy! The opposite is also true if you’re retired and ready to downsize from an SUV to a sedan.

Simple turn-in process

When your lease is nearing its end, you simply need to return to Banks Autos to turn it in. At that point, you can decide if you want to purchase the vehicle you’ve come to love over the past years or lease a new vehicle from our lineup of new Chevrolet, Buick, and GMC models.

You don’t have to shoulder the burden of selling your vehicle when you’re ready for an upgrade. There is no haggling over its trade-in value or the time-consuming process of meeting with potential buyers. The work is done for you when you lease a GM model from Banks Autos.

Why lease a GM model?

General Motors manufactures high-quality, diverse vehicles designed to meet your specific driving needs. Whether you need a sleek sedan, a thrilling sports car, a well-equipped SUV, or a formidable truck, you will have little trouble finding the right option in the lineups from Chevrolet, Buick, and GMC. GM models boast innovative tech, impressive capabilities, family-friendly features, and enviable comfort amenities.

Plus, when you lease a GM model from Banks Autos, you’ll earn Loyalty rewards through the My GM Rewards program. For example, you’ll earn 20,000 points when you lease a new GM vehicle. These points can be applied to a range of benefits including OnStar® services and car accessories so you can customize the look, feel, and functionality of your vehicle. Your specific lease agreement may also earn you dealer incentives.

Learn more about leasing a new GM model at Banks Autos in Concord, New Hampshire when you talk with our helpful sales team.

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