Auto Lease Responsibilities

• Advantages & Disadvantages of Leasing
• Buying vs. Leasing Comparison
• Auto Leasing Facts
• Options for Ending Your Lease
• Leasing Myths
• Lease Responsibilities
• Types of Auto Leases

Responsibilities of Auto Leasing

Like loans and cash purchases, leases require you to pay for costs associated with operating, maintaining and repairing vehicles.

Lease Payments

The lease agreement will itemize the following information regarding your periodic payments: Total number of payments, total amount of the payments, amount of each payment, due dates for the payments, late-payment charge, and how it is calculated.

Insurance

As with any vehicle, your lease contract will require you to obtain automobile insurance and will specify the type of coverage necessary.

Repairs & Maintenance

"Normal wear and tear" and "reasonable maintenance" provisions allow PROLEASE to make a more accurate assessment of the residual value for your lease. To help properly maintain your new vehicle, you will receive a factory warranty. Warranty repairs can be performed at the dealership of your choice. Since warranty terms vary greatly by vehicle, you should follow the specified maintenance schedules to keep the warranty coverage in tact. You should also make other repairs as needed. By properly maintaining your vehicle, it will hold more of its original value at the end of the lease.

PROLEASE often offers an extended service plan. These are normally described as "extensions" of existing warranties. Whether you choose a short- or long-term lease, you may want to consider the service benefits offered in these plans, such as emergency roadside assistance and rental car allowances.

Vehicle Registration & Use

Whether you lease or own the vehicle, you are responsible for renewal registration fees or property tax obligations required by your state. As for use, while leases may include restrictions on moving the vehicle out of-state, they do not normally include limitations on permitting other family members to drive the car.

Types of Auto Leases

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Houston, Texas 77027
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Auto Lease Houston, Texas