Leasing a car in Alabama and Georgia
Is your Acura lease reaching the end of its term? If the answer is yes, it’s time to explore what options you have in the Auburn, Newnan and Opelika areas. You have three choices when your lease is up: return the vehicle to our dealership, purchase the currently leased vehicle or lease another Acura. Everyone varies as to what their preferences are and what kind of auto financing fits their lifestyle and budget. Find out which option is best for you -check out the list below.
End of Lease option 1: Return the leased vehicle
This is good if you:
-
Are ready for a new or different car
-
Want to finance a different new, used, or CPO vehicle instead of leasing another car
End of Lease option 2: Purchase the leased vehicle
This is a good choice if you:
-
Love the features of your current car
-
Do not want to lease another car but want to own the car in your current lease
End of Lease option 3: Work out another lease with our Columbus, Georgia dealership
This option is for those who:
-
Like the brand but are ready to enjoy the upgrades of a newer model
-
Want to take advantage of great lease specials on new Acura models or pre-owned certified Acura vehicles
-
Generally put lower mileage on their cars
Pros of Leasing a car in Alabama or Georgia
Lower payments. Lease payments have risen a bit but are still lower than financing a car. Average monthly lease payments were $578. It is still lower by nearly $150 when compared to the average car note when buying, at $716. Source: Should I Lease or Buy a Car? - NerdWallet
Locked-in purchase price. If you want to buy your vehicle at the end of the lease, it is set in your lease contract as the residual value. If the car increases in value —exactly what we are experiencing now — you can buy the car at that previously contracted residual value, and that’s a bargain.
New car every couple years. Leasing is an easy way to drive the newest cars and get the latest technology without the hassle of trying to sell it later on. Additionally, at the end of lease, you are presented with an option to purchase the vehicle outright for the remaining value of the vehicle so if you love it, you can own it.
Lease payments applied to original vehicle price – Those lease payments you have made are applied to the original vehicle price.
Less sales tax. In a lease, you typically pay sales tax only on the total of the lease payments, not the purchase price of the vehicle. For example, taxes on a new vehicle in Georgia are 6.6 percent of the sales price. So, a $60,000 car would require almost $4,000 in taxes. You would pay much less when leasing.
Low to no maintenance costs. Many leases have maintenance included, or because it is a newer car will likely require less maintenance than one that is several years old, saving you money.
Cons of Leasing a car in Alabama or Georgia
You have mileage restrictions on a leased car – According to TheZebra.com, in Georgia we put some of the most miles on our cars vs other states. The average Georgia driver, piles on 18,334 miles annually. The good news is that leases have flexible mileage allowances, and you set your mileage terms up front. This means you’ve got to plan accordingly, if you go over your mileage you could end up paying a fee. https://www.thezebra.com/resources/driving/average-miles-driven-per-year/#infographic
Regardless of which lease option fits your lifestyle and budget best, we would love to help you get in a new or used Acura luxury SUV or car. If you would like to return your current lease, browse our inventory to find a new Acura, or a new-to-you car or SUV before turning in your lease with us. If you would like to purchase the vehicle or work out another lease plan, we can certainly help with that too.
Additionally, if you have a leased Acura and simply want to turn it back in when nearing your lease term end, we will happily help you turn in your Acura lease, even if you didn’t purchase it with us originally. Contact us today to discuss your leasing or financing options.
