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.

Deciding What to Do at the End of Your Lease

After your lease period concludes, you’ll have to decide what to do with the car you’re returning to Banks Autos.

You can turn in your leased vehicle and start over with another lease on a new Chevy or Buick model at our dealership. You can stick with the newer version of the same model or choose a different type altogether. Perhaps you are ready to trade-in your sedan for a family-friendly SUV. If you need more towing power because you plan to buy an RV or a camper, you can check out the Silverado or Sierra models.

Or, you can turn in your leased vehicle and simply walk away. You’re not obligated to begin another lease, so if you are not ready to make that commitment, you don’t have to. Perhaps you’d prefer to buy a used car from Banks Auto or don’t need new transportation right away. We’ll let you simply return your leased vehicle, resolve any remaining fees or paperwork, and leave your next step in your hands.

If your leased vehicle has served you well and you cannot bear to be without it, you can purchase it from us when your lease is up! Your lease agreement will outline the conditions of the lease buyout option, and our staff will walk you through the process when the time comes. Once everything is signed, paid, and transferred, you can drive off our lot in the driver’s seat of your car.

Preparing to Return Your GM from Lease

When your lease is near its end, you need to prepare your GM model for return at Banks Autos. The process should start approximately 90 days before the day your contract officially ends, which is when you’ll receive a reminder phone call. During this phone conversation, you will schedule your inspection date.

Here’s what you need to do to prepare for that inspection:
• Wash your vehicle.
• Rid the cabin, trunk, truck bed, and cargo area of personal items. Do not forget to check hidden storage compartments, the center console, seatback pockets, door storage, and the glovebox.
• Touch up light scratches by waxing and buffing.
• Find and return any item that came with the car when you signed the lease (original floor mats, spare tire, spare set of keys, cargo accessories, etc.)
• Gather all relevant paperwork.

On the day of the inspection at Banks Autos, your leased vehicle will be assessed for damage and if any area of your vehicle shows “excessive wear and tear.” If there is, you will have to pay for the repairs, so be sure to do what you can to fix up your car before it’s inspected. Your vehicle does not necessarily have to be “perfect” to pass the inspection. But, any repairs or fixes that go beyond the established allowance will cost you.

The appointment will take approximately 45 minutes and could occur here or somewhere else, as that depends on your arrangement. Here is what the inspector will look for on exterior your car:
• Damage including dents, scratches, and scrapes
• Bumper appearance
• “Curbed” wheels
• Tread depth and wear of tires
• Tire damage
• Windshield cracks or worrisome pitting
• Upholstery stains
• Upholstery tears
• Damage to the cabin

You will be able to review the report the inspector makes so you have a clear understanding of what, if anything, was deemed to be “excessive wear and tear.” If you do need to handle repairs, be sure to schedule them ASAP so they can be completed before you need to return your vehicle to Banks Autos. Timely action will help you avoid needing a lease extension.

Best GM models to lease in Concord, NH

The GM lineup of cars, crossovers, SUVs, and trucks offer plenty of options to fuel your driving lifestyle. GM models boast innovative features, well-equipped interiors, modern technologies, and advanced safety systems, so you can feel confident, comfortable, and happy behind the wheel. Here is a closer look at the best GM models to lease based on your needs.

Best Chevy SUVs for your family
The Chevy SUV lineup offers many options that range in size, style, and capability. The one thing in common, though, is that each SUV is packed with family-oriented features.

Each Chevy SUV features a user-friendly infotainment system, which offers smartphone integration so you can stay connected and entertained on the go. The Chevy SUV lineup also priorities you and your family’s safety with its innovative suite of advanced driver assist technologies.

From the compact, fuel-efficient Trax that seats five people to the spacious Equinox that offers flexible interior configurations to the full-size Suburban, designed for large families on the go, the Chevy SUV lineup is all about families.

If you need an adventure-ready SUV to satisfy your family’s wanderlust, the Trailblazer and Blazer are excellent options. When properly equipped, the 2022 Blazer can tow 4,500 pounds, which means you can take along your outdoor toys on your New England road trip.

Buick crossovers for commutes
Commuting to and from work should be a great part of your day! That’s why it matters which vehicle you’re driving.

The Buick Encore is a small SUV with plenty of space in the front row so you’re comfortable on long drives. Its modern connectivity tools keep you in touch with your clients and your family on the go. Its fuel-efficient performance helps ensure you won’t lose time and money at the pump. If you use your commute time to center yourself, you’ll appreciate the crossover’s signature QuietTuning™ Technology with Active Noise Cancellation. With this tech, outside noise is blocked from interrupting your thoughts or interfering with the enjoyment of your music.

Luxury Avenir and Denali models
When you lease a high-end GM model, you have access to the latest digital features, driving technology, and premium designs. You can experience top levels of luxury when you lease an Avenir model from Buick or a Denali model from GMC. These top-tier trim levels offer premium materials such as quilted leather seats. Plus, Avenir and Denali models offers signature style elements, like chrome accents and wood inlays.

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