With a Land Rover lease, you can drive the newest Land Rover models every year, making it a great fit for drivers who love to drive the latest models. However, some of the language can be a little confusing, so join our experts for a closer look — and then come to Land Rover Northfield and talk to our finance team to find out more!
Depreciation
With a traditional loan, your monthly payments cover the cost of the car entirely, but with a lease, they go towards depreciation. These payments cover the regular wear and tear of driving a car, based on the expected mileage. If you have an open-ended lease, you may be responsible for any additional depreciation at the end of your lease.
Mileage Cap
Car leases usually include a mileage cap, which limits the number of miles you can cover during your lease. If you drive over your cap, you’ll have to pay extra at the end of your lease for additional depreciation, so make sure to stay on top of how far you have driven. Drivers who don’t plan to drive their lease far can sometimes opt for a low-mileage lease.
Early Termination
Returning your car to the lot and ending your lease early may cost more than sticking it through to the end. Early termination typically includes both voluntary and involuntary ends to a lease, so ensure you are aware of any additional fees that may occur. Our finance team can walk you through what does and does not count as an early termination.
Lease a New Land Rover Vehicle in Northfield, FL Near Chicago
Leasing is a great way to get behind the latest and most powerful new Land Rover vehicles on the market. Come down to Land Rover Northfield and talk to our finance team to learn more about leasing today!