EV leasing
About Vehicle Leasing Options
What you need to know about Vehicle Leasing
Car leasing is similar to renting, in that you’re using a particular vehicle, for an agreed length of time (usually between 2 to 5 years), and for a set fee.
The total cost of your vehicle lease is calculated as follows:
- The new value of the car
- The estimated value at the end of the lease (the residual value)
- The annual mileage agreed upon
- The length of the lease
- The fees
- Credit report
As with a car loan (or any loan for that matter), you’ll need to accept a personal credit check which assesses credit strength and possible risk status.
The different leasing options
- Open-End Leases
You get all the benefits of leasing with a plan that is as close to ownership as you can get. - Closed-End Leases
A low-risk option that offers predictable expenses and fixed terms with no obligation. - Short-Term Leases
Flexible lease terms from 3 months to 1 year. - Long-Term Leases
Long-term use with the ability to scale with your business. - Seasonal Leases
A seasonal lease allows you to skip payments. F.e. you won’t get billed during your off season. - Value Leases
To save money, you can choose to lease used, low-mileage vehicles.