Lease Option - FAQ
Leasing Your Next Acura at Maple Acura FAQ
When vehicle shopping, you may find it challenging to choose the best payment plan suited to your needs. Leasing a vehicle is one of the many options you can choose from when vehicle shopping and can be beneficial for many reasons. Keep reading to learn more about the commonly asked questions regarding leasing here at Maple Acura. Then, feel free to visit our online Finance Centre to learn more about our other payment plans.
What is Leasing?
Leasing is when you select your favourite car and make regular monthly payments before returning the car to the dealership after your lease ends (usually after two to four years).
What are the Benefits of Leasing?
Leasing has many benefits. Firstly, you get to drive around a new vehicle every two to four years; this allows you more versatility and confidence. There are many makes and models to choose from, and when you lease, you can have whatever you desire. Also, when you lease a new car, you can take advantage of warranties and other new car incentives. Leasing also allows you to have lower monthly payments and taxes than financing, saving you money that you can invest elsewhere.
What is a Closed-End Lease?
A closed-end lease means that your lease term includes a set number of payments you agree to make over time. This payment amount then determines the price of the vehicle at the end of the term if you choose to buy it out.
What Happens if My Vehicle is Written Off or Stolen?
If your leased vehicle obtains a "write-off" status by the insurance companies due to it being in an accident, vandalized, or stolen, then your insurance company may cover the cost of damages. However, this may not always be the case. We offer a Future Value Lease to protect you from this. Contact us to learn more.
What are the benefits of Acura Lease?
Leasing an Acura is an excellent option for those with active, changing lifestyles. Firstly, there are no long-term commitments, meaning you can enjoy the freedom of having a new car every two to five years. Next, lower payments mean that you might be able to afford a sportier or more luxurious vehicle than you would've picked out if you were purchasing outright. Lastly, our Acura leasing program meets all your needs. We offer Low Kilometre Leasing for those that want a new Acura but don't want to take it very far. This, in turn, gives you even lower payments. It's a win-win-win!