Lease FAQs

The questions we hear most, answered straight. Still wondering about something? Reach out and we'll walk you through it.

What is the difference between a closed-end and open-end lease?

In a closed-end lease you make a set number of payments based on a fixed end-of-lease value (the residual), and you simply return the car at the end — you're not responsible for what it's worth, only for any excess mileage, excess wear, or disposition fee set in your contract. In an open-end lease you take the risk on the car's final value. We use closed-end leases for nearly all customers; open-end is reserved for some commercial and high-end exotic situations.

How fast can I get my car?

Often within 24–48 hours of the deal being finalized, as long as your desired vehicle is readily available at a dealer in your area. If the exact car has to be located out of area or ordered, timing varies — your Client Advisor will give you a realistic estimate.

How does delivery work?

We can deliver your new car to your home or office anywhere in the lower 48, and collect your trade-in or lease return at the same time. Prefer to pick it up? That works too. When a vehicle is sourced out of your area, transportation cost varies by location and is shown up front.

What credit do I need, and what happens when you check?

We work with many lenders, so there's room for a range of credit profiles. Applying involves a real credit check — that's how lenders give you accurate terms instead of guesses. And because we shop several lenders for you, it's worth knowing that credit-scoring models typically treat multiple auto-loan inquiries made in a short shopping window as a single inquiry, so rate-shopping isn't penalized the way people fear. We'll tell you exactly what to expect before anything is submitted.

What fees are involved in a lease?

Common ones include an acquisition (bank) fee to set up the lease and, with some banks, a disposition fee at the end to cover returning the car. Sales tax treatment varies by state — in most states it's applied to the monthly payment, though states like Texas and Maryland handle it differently. We lay out every number on your deal sheet before you sign.

What if I drive a lot of miles?

You set your annual mileage allowance up front, and we can structure leases with allowances as high as 25,000 miles per year. Choosing the right allowance at signing is almost always cheaper than paying per-mile overage charges at the end.

Can I end my lease early?

You can, but it is generally costly — you are essentially responsible for the remaining obligation on the lease. If you need out early, we can talk through buying, selling, trading, or a lease assumption (with bank approval) to find the least expensive path.

Is my factory warranty still valid?

Yes. Your vehicle is supplied new by a franchised dealer, and your full factory warranty applies exactly as it would if you leased directly from the dealership. As with any lease, the leasing company holds the title and you're the lessee — we never take title to the car or resell it to you.

Do you serve customers outside New York?

Yes. We are New York based but serve clients nationwide, with home delivery and transportation assistance available across the lower 48.