Chrysler Capital Lease

To buy or not to buy, to lease or not to lease, these are the questions. It's a relevant discussion ever since the choice to lease vehicles became an option in 1941.

Basically, leasing is "long-term renting" of a vehicle with an option to buy it at the end of the term of the lease. We might even call it "rent to own." Leasing offers several advantages over buying a car.

Why Chrysler Capital Leasing is Better

To start with, when looking for Milwaukee lease deals, you sign a lease agreement that says you will pay a fixed amount every month to have use of the car for the term of the lease, which is often two, three, or even four years. Some leases come with mileage restrictions, and some don't. We'll be happy to discuss the type of car lease in Milwaukee that works with you before we both sign the paperwork. The advantages of leasing over buying include:

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  No large outlay of cash

• Lower monthly payments

• Shorter terms and correspondingly fewer taxes

• An automatic warranty for repairs

• Being able to have a new vehicle every couple of years

• The option to buy the vehicle at the end if you really like it

What Credit Score Do You Need to Lease a Car in Milwaukee from Chrysler Capital?

As with many prime loans, the qualification cutoff for a Jeep lease, or any other Chrysler Capital lease, is a credit score of 620. The higher your credit score is, the better terms we can offer you, of course, but at 620, we should be able to work something out. As an added benefit, if you regularly pay your leasing bill from the Milwaukee car dealership where you acquire the lease, your credit score will improve because we report to all three major credit bureaus every month.

What Happens at the End of a Car Lease?

In short, one of three things happens: You either give the car back, extend your lease, or buy out the residual cost. The reason that leases cost less than buying is that the residual cost isn't figured into the principal upon which the monthly payment is based. There is no "usual residual" as residuals can be of any negotiated percentage within the laws governing vehicle leases. The long version includes one or more of the following steps:

• Examination of the vehicle for needed repairs and calculation of the costs of those repairs

• Checking for excess mileage, if mileage was part of the original agreement, and tabulation of the cost

• The lessee choosing to extend or buy out the lease and, if not, arranging for the payment of the residual cost

• Final disposition of the leased vehicle

How Do I Buy Out My Lease

To buy out your lease, the first thing you do is to set up the payment of the residual cost with us at Ewald CJDR. If you do need financing, we need to work together to arrange for that before you agree to buy out the lease. If, for example, your credit has worsened, then we might have to come up with alternate solutions together. If your credit has improved, then so much the better! After that, there is just paperwork for title exchange, filing the odometer reading, and registering with the DMV.

Contact us at Ewald CJDR today to find out how you can get into a new leased vehicle through Chrysler Capital. We look forward to hearing from you.