All Topics > Cars > Miscellaneous > Leasing 101 >

Leasing 101 Pennsylvania

When you lease, you are paying for the use of a vehicle.

Local Companies

Bradford Auto Service
(814) 368-4328
58 W. Washington Street
Bradford,, PA

Edmond Chevrolet/Ed Shults Toyota
(814) 362-3837
590 South Avenue
Bradford,, PA

Fairway Ford-Lincoln-Mercury
(814) 368-7166
472 East Main St
Bradford,, PA

Hedlund Glass & Auto Seat Cover Co
(814) 362-7746
34 N. Kendall Ave.
Bradford,, PA

RayBurg M.A.R.S.
(888) 695-7280
14 Tinadell Road
Bradford,, PA

Edmond Chevrolet/Ed Shults Toyota
(814) 362-3837
590 South Avenue
Bradford,, PA

Fairway Ford-Lincoln-Mercury
(814) 368-7166
472 East Main St
Bradford,, PA

Federal Servicing, LLC
724-658-5687
930-2 Cass St
New Castle, PA

Pay Point Auto Sales
(717) 591-1999
2 Taylor
New Kingstown, PA

Cumberland Valley Motors
(717) 697-9477
Mechanicsburg, PA

provided by:

(Continue to more photos from MyRide.com)

Understanding Leases

When you lease, you are paying for the use of a vehicle. Your payments cover the cost of the vehicle's depreciation over the time you drive it, rather than the purchase price. When the lease is up - typically in two to four years -- you must return the vehicle or purchase it outright. This article will explain what you need to know if you're considering a lease. Before you make your final financing decision, you should also review our articles on loans and the differences between loans and leases.

How lease payments are calculated

To calculate a lease payment, the financial institution (the "lessor") estimates the amount the vehicle will depreciate over the lease period, adds the interest being paid by the lessor to finance the car while you drive it and several other fees. Many leases can be started with 'no money down,' although a down payment ensures lower monthly payments.

The Federal Reserve Board recently enacted consumer-friendly legislation that requires dealers to disclose all the key variables of a lease: the interest rate, residual value, length of lease, and size of down payment.

The two- to three-year lease

Short term leases work for those who want a brand-new vehicle every few years. The manufacturer covers major maintenance costs for the duration, and you usually pay for required servicing. A major concern: if you terminate this type of lease early, you'll most likely pay severe penalties. Returning the car when the lease is up When a lease expires, you can either buy it, or return it. If you return it you must do the following:

Return the vehicle in its original state with no accessories, modifications, or different parts.
Make sure the vehicle is in good shape, with no excessive "wear and tear." There are penalties for damage or rough treatment.
Meet mileage limits, usually around 12,000 - 15,000 miles. You will be charged anywhere from 10 to 15 cents for every mile you drive over the limit, which can really add up. For example, if you drive 20,000 miles per year for three years on a 12,000 mile/15 cent lease, your penalty would be $3,650.

Continue to Leasing 101 Review from MyRide.com

Featured Local Company

Bradford Auto Service

8143684328
58 W. Washington Street
Bradford,, PA

Read more about Leasing 101

- Buying vs. Leasing Pennsylvania

More than 30% of consumers opt to lease a car instead of purchase it.

- Car Shopping Decisions Pennsylvania
- Car Leasing Or Car Buying Pennsylvania
- Vehicle Leases Pennsylvania
- Basic Rules On Leasing Pennsylvania
- Auto Leasing Basics Pennsylvania
- Issues On Car Leasing Pennsylvania
- Auto Leasing Pros and Cons Pennsylvania
- New Car Leases Pennsylvania
- Financing A New Acura Purchase Pennsylvania

Regional Articles

- Leasing 101 Aliquippa PA
- Leasing 101 Allentown PA
- Leasing 101 Allison Park PA
- Leasing 101 Altoona PA
- Leasing 101 Ambler PA
- Leasing 101 Apollo PA
- Leasing 101 Aston PA
- Leasing 101 Beaver Falls PA
- Leasing 101 Beaver PA
- Leasing 101 Belle Vernon PA
- Leasing 101 Bellefonte PA
- Leasing 101 Bensalem PA
- Leasing 101 Berwick PA
- Leasing 101 Bethel Park PA
- Leasing 101 Bethlehem PA
- Leasing 101 Birdsboro PA
- Leasing 101 Bloomsburg PA
- Leasing 101 Blue Bell PA
- Leasing 101 Boyertown PA
- Leasing 101 Bridgeville PA
- Leasing 101 Broomall PA
- Leasing 101 Bryn Mawr PA
- Leasing 101 Butler PA
- Leasing 101 Camp Hill PA
- Leasing 101 Canonsburg PA
- Leasing 101 Carlisle PA
- Leasing 101 Carnegie PA
- Leasing 101 Chalfont PA
- Leasing 101 Chambersburg PA
- Leasing 101 Chester PA
- Leasing 101 Clairton PA
- Leasing 101 Clarks Summit PA
- Leasing 101 Clifton Heights PA
- Leasing 101 Coatesville PA
- Leasing 101 Collegeville PA
- Leasing 101 Connellsville PA
- Leasing 101 Conshohocken PA
- Leasing 101 Coraopolis PA
- Leasing 101 Cranberry Twp PA
- Leasing 101 Darby PA
- Leasing 101 Dillsburg PA
- Leasing 101 Downingtown PA
- Leasing 101 Doylestown PA
- Leasing 101 Drexel Hill PA
- Leasing 101 DuBois PA
- Leasing 101 East Stroudsburg PA
- Leasing 101 Easton PA
- Leasing 101 Elizabethtown PA
- Leasing 101 Elkins Park PA
- Leasing 101 Ellwood City PA
- Leasing 101 Emmaus PA
- Leasing 101 Ephrata PA
- Leasing 101 Erie PA
- Leasing 101 Exton PA
- Leasing 101 Feasterville Trevose PA
- Leasing 101 Gettysburg PA
- Leasing 101 Gibsonia PA
- Leasing 101 Glenshaw PA
- Leasing 101 Glenside PA
- Leasing 101 Greensburg PA
- Leasing 101 Hanover PA
- Leasing 101 Harleysville PA
- Leasing 101 Harrisburg PA
- Leasing 101 Hatboro PA
- Leasing 101 Hatfield PA
- Leasing 101 Havertown PA
- Leasing 101 Hazleton PA
- Leasing 101 Hershey PA
- Leasing 101 Hollidaysburg PA
- Leasing 101 Hummelstown PA
- Leasing 101 Huntingdon PA
- Leasing 101 Huntingdon Valley PA
- Leasing 101 Indiana PA
- Leasing 101 Irwin PA
- Leasing 101 Jeannette PA
- Leasing 101 Jenkintown PA
- Leasing 101 Johnstown PA
- Leasing 101 Kennett Square PA
- Leasing 101 King Of Prussia PA
- Leasing 101 Kingston PA
- Leasing 101 Kittanning PA
- Leasing 101 Kutztown PA
- Leasing 101 Lancaster PA
- Leasing 101 Langhorne PA
- Leasing 101 Lansdale PA
- Leasing 101 Lansdowne PA
- Leasing 101 Latrobe PA
- Leasing 101 Lebanon PA
- Leasing 101 Lehighton PA
- Leasing 101 Levittown PA
- Leasing 101 Lewistown PA
- Leasing 101 Lititz PA
- Leasing 101 Lock Haven PA
- Leasing 101 Manheim PA
- Leasing 101 Marcus Hook PA
- Leasing 101 Mc Kees Rocks PA
- Leasing 101 Mckeesport PA
- Leasing 101 Meadville PA
- Leasing 101 Mechanicsburg PA
- Leasing 101 Media PA
- Leasing 101 Monroeville PA
- Leasing 101 Morrisville PA
- Leasing 101 Nazareth PA
- Leasing 101 New Castle PA
- Leasing 101 New Cumberland PA
- Leasing 101 New Kensington PA
- Leasing 101 Newtown PA
- Leasing 101 Newtown Square PA
- Leasing 101 Norristown PA
- Leasing 101 North Wales PA
- Leasing 101 Oil City PA
- Leasing 101 Palmyra PA
- Leasing 101 Perkasie PA
- Leasing 101 Philadelphia PA
- Leasing 101 Phoenixville PA
- Leasing 101 Pittsburgh PA
- Leasing 101 Pittston PA
- Leasing 101 Pottstown PA
- Leasing 101 Pottsville PA
- Leasing 101 Punxsutawney PA
- Leasing 101 Quakertown PA
- Leasing 101 Reading PA
- Leasing 101 Red Lion PA
- Leasing 101 Royersford PA
- Leasing 101 Scranton PA
- Leasing 101 Selinsgrove PA
- Leasing 101 Sewickley PA
- Leasing 101 Shippensburg PA
- Leasing 101 Southampton PA
- Leasing 101 State College PA
- Leasing 101 Stroudsburg PA
- Leasing 101 Telford PA
- Leasing 101 Uniontown PA
- Leasing 101 Upper Darby PA
- Leasing 101 Verona PA
- Leasing 101 Warminster PA
- Leasing 101 Washington PA
- Leasing 101 Wayne PA
- Leasing 101 Waynesboro PA
- Leasing 101 Waynesburg PA
- Leasing 101 West Chester PA
- Leasing 101 West Mifflin PA
- Leasing 101 Wexford PA
- Leasing 101 Whitehall PA
- Leasing 101 Wilkes Barre PA
- Leasing 101 Williamsport PA
- Leasing 101 Willow Grove PA
- Leasing 101 York PA

- Auto Leasing Pros and Cons Pennsylvania

Should you lease your next automobile or finance it instead? Find out by comparing the advantages offered by each option.

- New Car Leases Pennsylvania
- Financing A New Acura Purchase Pennsylvania
- Basic Rules On Leasing Pennsylvania
- Vehicle Leases Pennsylvania
- Car Leasing Or Car Buying Pennsylvania
- Issues On Car Leasing Pennsylvania
- Car Shopping Decisions Pennsylvania
- Auto Leasing Basics Pennsylvania
- Buying vs. Leasing Pennsylvania

Rate Article

Save to My Articles

Articles Insider

Advertising	Food & Beverage	Nightlife
Business Services	Franchise	Online Database
Career	Health	Pets
Cars	Holidays	Real Estate Resources
Computer Hardware	Home Appliances	Retail & Consumer Services
Construction	Home Electronics	Software
Education	Home Services	Technology
Entertainment	Industrial Goods & Services	Telecommunications
Environmental	Insurance	Trade Shows
Family	Internet	Travel
Fashion	Legal	Weddings
Financial Services	Miscellaneous	World History

Advertising	Family	Home Services	Real Estate Resources
Business Services	Fashion	Industrial Goods & Services	Retail & Consumer Services
Career	Financial Services	Insurance	Software
Cars	Food & Beverage	Internet	Technology
Computer Hardware	Franchise	Legal	Telecommunications
Construction	Health	Miscellaneous	Trade Shows
Education	Holidays	Nightlife	Travel
Entertainment	Home Appliances	Online Database	Weddings
Environmental	Home Electronics	Pets	World History