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 with nothing owed beyond agreed mileage and wear. 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 about 24 hours of lease approval, 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 country, with the paperwork ready to sign, and collect your trade-in 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 comes directly from a franchised dealer, so the title passes straight to you and your full factory warranty applies — exactly as if you'd bought it at the dealership yourself.

Do you serve customers outside New York?

Yes. We are New York based but serve clients nationwide, with home delivery and transportation assistance available coast to coast.