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When it’s time to consider your next GMC vehicle, you have several options in front of you. If you’re thinking of getting a brand new GMC, we suggest you lease one! A GMC lease is a great way to experience a new GMC truck or SUV with monthly payments that fit your budget. Beyond the monthly payments, there are other benefits to leasing a vehicle with GMC. Before you sign on the dotted line for your GMC lease, it’s important to know all of what a leasing agreement entails and what to expect. So if you’re new to leasing, you’ve come to the right place! Even if you’re a veteran, it’s always smart to refresh with updated information. Let’s dive into what leasing a vehicle is, details and warranties for GMC leases, and how your GMC lease will end. Then you’ll be ready to hop in a new GMC!
A car lease allows you to drive a new car for a period of time defined by the dealership and then return it to the dealership at the end. For example, you could lease a new GMC Terrain for 24 months, and after that time, you turn the Terrain back into the dealership. You would then have options on how to proceed after the lease agreement is over. You typically make a down payment and then have monthly payments throughout the lease. These monthly payments are usually lower than monthly payments from purchasing a vehicle, but that depends on how much you put down. Many people are drawn to car leases because of these lower monthly payments and the ability to drive the latest vehicles.
You don’t own the car during the lease period; you are only paying for the portion (or depreciation) of the vehicle you use. Many leases last 2-4 years, so you will only pay for the value that the vehicle loses during those years. The benefit to you is you get to drive a brand new vehicle for a lower monthly payment, and after the lease period is up, you can lease another brand new car. This is an excellent option if you like driving the latest and greatest vehicle out there and want to be able to get a new vehicle every few years.
Every dealership’s car lease program is different, and lease deals can change for different vehicles. That’s why it’s important to ask questions, read the agreement thoroughly, and understand your responsibilities for the lease term. This will ultimately save you money and stress in the future. Here’s what you need to know about a GMC lease.
Your credit plays a big role in how you qualify for a GMC lease. The first step to starting your GMC lease is to fill out a credit application online. This helps our team get started on your vehicle financing so you can save time at the dealership. GMC leases last 2-4 years, so plan out your budget to ensure you can make the monthly payments for that period of time to avoid a penalty for early lease termination.
Other GMC lease details you should be aware of are vehicle wear and tear and mileage limits. We want you to live your life without worry in your GMC lease, but it’s your responsibility to take care of your vehicle's interior, exterior, and routine maintenance. Also, pay special attention to the mileage limit in your GMC lease agreement. You can work with us directly to understand what the limit is and how to manage it. No matter the mileage limit, the great benefit to leasing is you’re driving your GMC during its best years and miles, but having extra protection could give you peace of mind.
GMC offers a variety of warranties and protections for leased vehicles. New GMC vehicles come with a 3-year/36,000-mile warranty, which will likely cover much, if not all, the lease period. If you want extra protection, you can consider getting XS Wear Lease Protection or Advanced Lease Protection. The XS Wear Lease Protection covers you for damages beyond the normal wear and tear defined in your lease agreement. If you worry that you might do more than "normal" wear, this lease will be able to cover you from having to pay high fees for repairs. The Advance Lease Protection gives you more coverage during the manufacturer's warranty, and after that warranty expires for things like breakdown and parts replacement costs.
When you choose a GMC lease, there are plenty of protections and plans you can take advantage of to make this the best decision for your life and your budget. You can have complete peace of mind during your lease with these extra protections in place. This extra peace of mind also allows you to fully experience all of the advanced technology, interior convenience, and performance of your GMC vehicle.
When your lease period is coming to a close, there are several steps you will need to take that will make it a more seamless process and potentially save you money. We’re here to guide you every step of the way so you know what to expect when you are returning a leased vehicle. Leasing is great, but it also requires some extra steps that may bring about fees or penalties if you don't follow the process.
You have three options to take when you’re nearing the end of your GMC lease. The first option is to lease a new GMC vehicle after returning your current one. Just come by and see us at Rick Hendrick Buick GMC Duluth to start the process. As vehicles improve with technology and features over the model years, you will get to take home a more advanced GMC model. The next option is to purchase the vehicle you’re leasing. This is a perfect option if you find this GMC vehicle is an excellent fit for you long term. We can walk you through the purchase process and give you the purchase price. Your final option is to return your leased vehicle to the GMC dealership without purchasing or leasing a new one. Schedule an appointment with us to return your lease easily. We can even help you find another new or used vehicle in our inventory if you choose.
When you do return your lease, it’s as simple as coming to our dealership. We will process and help you with any next steps if you choose. After returning the vehicle, you will receive an invoice with any final charges. That's right, there could be some other charges that you may have to pay for after you turn the vehicle in, but many of these can be lessened or avoided by you. We recommend that you get a pre-return inspection that will let you know any potential repairs and maintenance that you might want to have done before turning in the vehicle, as this may end up being cheaper for you.
Also, make sure you are keeping an eye on your mileage limit throughout the lease, as going over this can lead to major charges. If you feel at any point in the lease that you might exceed the mileage limit, you can contact us to purchase more miles in advance, which again can save you money later. Always pay attention to your lease agreement to understand what charges you should expect and charges that could be avoidable, like excessive wear and tear, before you return. At any point in your lease, beginning, middle, or end, our team at Rick Hendrick is always happy to answer your questions and concerns. We are here to make you happy with your GMC lease!
At Rick Hendrick Buick GMC Duluth, we have a full and booming inventory of new GMC vehicles available for lease. Whether you’re looking for a full-size SUV, a midsize pickup truck, or anything in between, we have options for you. You can expect the highest levels of professionalism and service from our whole team. Our finance team works diligently to ensure all of your financing is in order for your lease agreement quickly and efficiently.
After you drive off in your brand new GMC, you can complete all of your routine maintenance and repairs at our GMC service center. The certified technicians have expert knowledge of GMC vehicles, so you can feel confident your vehicle is in good hands. We are in the business of helping you find the best GMC vehicle for your needs and helping you keep it in the best condition long after you purchase. Come visit us today at 3244 Commerce Ave Nw in Duluth!