All Topics > Cars > Miscellaneous > Vehicle Leases >

Vehicle Leases Maryland

Before leasing a vehicle, consumers should be aware of how leasing works plus the advantages and disadvantages of leasing compared to buying. To learn about these differences, read the following article.

Local Companies

Rent A Wreck
(301) 949-1710
3809 Farragut Ave
Kensington, MD

Sears Rent A Car
(410) 655-4848
9901 Liberty Rd
Randallstown, MD

Budget
(410) 282-4397
Dundalk, MD

Griffin's X-Press Rent-A-Car Inc
(410) 655-2907
3605 Brenbrook Dr
Randallstown, MD

Enterprise Rent-A-Car
(301) 630-3100
2304 Curtis Dr
Oxon Hill, MD

Enterprise Rent-A-Car
(410) 682-6474
1201 Eastern Blvd
Baltimore, MD

Enterprise Rent-A-Car
(301) 617-9677
9943 Washington Blvd N
Laurel, MD

Enterprise Rent-A-Car
(410) 957-1370
1242 Ocean Hwy
Pocomoke City, MD

Century Car Rental
(301) 421-4499
15545 Old Columbia Pike
Burtonsville, MD

Enterprise Rent-A-Car
(301) 797-9896
104 Railway Ln
Hagerstown, MD

Provided by:

Before leasing a vehicle, consumers should be aware of how leasing works plus the advantages and disadvantages of leasing compared to buying.

Leasing a vehicle is similar to renting a car or truck; you pay for the time that you drive it. Leasing also involves paying for the depreciation a vehicle incurs during the lease period. The depreciation value is based on industry and economy trends, normal wear and tear and the vehicle manufacturers’ reputation for quality.

Leasing companies are subsidiaries of car manufacturers and financial institutions such as banks and credit unions. Auto dealerships act as intermediaries between the leasing customer and the leasing company. The dealership sells the car to the leasing company and sets up the lease agreement with the customer on behalf of the leasing company. After the lease agreement is final, the auto dealership is on longer involved. The customer makes monthly payments to the leasing company.

Generally, leases last for 24 to 48 months and the monthly payments are much lower than car loan payments. However, at the end of the lease, the customer does not own equity in the vehicle. The leasing company actually owns the vehicle, so it is in the company’'s best interest only to lease for the duration of the manufacturers’ warranty. It is also in the customers’ best interest to have full warranty coverage because any mechanical problems will be their responsibility.

To qualify for a lease, customers must have a high credit rating. Leasing companies need to be confident that a leasing customer is financially responsible, since the vehicle is essentially ”loaned” to the customer for a specific period of time.

Some salespeople may claim that leasing a car makes the price non-negotiable; this is not true. In addition to the commission from the car sale, the salesperson also receives a percentage from the leasing company. The auto dealership sets the final price, not the leasing company, so customers should negotiate the price the same way they would to buy.

After the lease has expired, customers can choose the option to buy the vehicle by paying the remaining value plus fees or they can lease a new vehicle. However, if the vehicle’s condition does not meet industry standards for normal wear and tear, the customer may end up paying extra at the end of their lease.

The attractions for consumers to lease a vehicle are low monthly payments and they get a new car or truck every few years. On the other hand, the monthly payments do not result in any equity and some consumers like the idea of eventually owning their vehicle.

References

How Leasing Works. Retrieved October 3, 2006, from LeaseGuide.com Web site:
http://www.leaseguide.com/lease07.htm

Lease vs. Buy. Retrieved October 3, 2006, from LeaseGuide.com Web site:
http://www.leaseguide.com/lease03.htm

What is Leasing?. Retrieved October 3, 2006, from LeaseGuide.com Web site:
http://www.leaseguide.com/lease02.htm

Read more about Vehicle Leases

- Certified Pre-Owned Vehicles Maryland

Thanks to manufacturer certified pre-owned vehicle (CPO) programs, buying a used vehicle can involve less risk and provide you with added benefits. Here are some facts to keep in mind as you consider whether purchasing a CPO vehicle is right for you.

- How a loan works Maryland
- Auto Leasing Pros and Cons Maryland
- Lease Assumptions Maryland
- Auto Lease Glossary Maryland
- Maintenance of a leased car Maryland
- Auto Leasing Basics Maryland
- Leasing 101 Maryland
- Transportation Lease Maryland
- New Car Leases Maryland

Regional Articles

- Vehicle Leases Annapolis MD
- Vehicle Leases Baltimore MD
- Vehicle Leases Bel Air MD
- Vehicle Leases Beltsville MD
- Vehicle Leases Bethesda MD
- Vehicle Leases Bowie MD
- Vehicle Leases Brooklyn MD
- Vehicle Leases Capitol Heights MD
- Vehicle Leases Catonsville MD
- Vehicle Leases Chevy Chase MD
- Vehicle Leases Clinton MD
- Vehicle Leases Cockeysville MD
- Vehicle Leases College Park MD
- Vehicle Leases Columbia MD
- Vehicle Leases Crofton MD
- Vehicle Leases Cumberland MD
- Vehicle Leases Derwood MD
- Vehicle Leases District Heights MD
- Vehicle Leases Dundalk MD
- Vehicle Leases Edgewood MD
- Vehicle Leases Elkridge MD
- Vehicle Leases Elkton MD
- Vehicle Leases Ellicott City MD
- Vehicle Leases Essex MD
- Vehicle Leases Forest Hill MD
- Vehicle Leases Fort Washington MD
- Vehicle Leases Frederick MD
- Vehicle Leases Frostburg MD
- Vehicle Leases Gaithersburg MD
- Vehicle Leases Germantown MD
- Vehicle Leases Glen Burnie MD
- Vehicle Leases Greenbelt MD
- Vehicle Leases Gwynn Oak MD
- Vehicle Leases Hagerstown MD
- Vehicle Leases Halethorpe MD
- Vehicle Leases Havre De Grace MD
- Vehicle Leases Hyattsville MD
- Vehicle Leases Jessup MD
- Vehicle Leases Joppa MD
- Vehicle Leases Kensington MD
- Vehicle Leases La Plata MD
- Vehicle Leases Lanham MD
- Vehicle Leases Laurel MD
- Vehicle Leases Lexington Park MD
- Vehicle Leases Lusby MD
- Vehicle Leases Lutherville Timonium MD
- Vehicle Leases Middle River MD
- Vehicle Leases Millersville MD
- Vehicle Leases Montgomery Village MD
- Vehicle Leases Mount Airy MD
- Vehicle Leases Nottingham MD
- Vehicle Leases Odenton MD
- Vehicle Leases Olney MD
- Vehicle Leases Owings Mills MD
- Vehicle Leases Oxon Hill MD
- Vehicle Leases Parkville MD
- Vehicle Leases Pasadena MD
- Vehicle Leases Pikesville MD
- Vehicle Leases Potomac MD
- Vehicle Leases Randallstown MD
- Vehicle Leases Reisterstown MD
- Vehicle Leases Rockville MD
- Vehicle Leases Rosedale MD
- Vehicle Leases Salisbury MD
- Vehicle Leases Severn MD
- Vehicle Leases Severna Park MD
- Vehicle Leases Silver Spring MD
- Vehicle Leases Suitland MD
- Vehicle Leases Sykesville MD
- Vehicle Leases Takoma Park MD
- Vehicle Leases Temple Hills MD
- Vehicle Leases Towson MD
- Vehicle Leases Upper Marlboro MD
- Vehicle Leases Waldorf MD
- Vehicle Leases Westminster MD
- Vehicle Leases Windsor Mill MD

- Maintenance of a leased car Maryland

I am in the market for a new car and am considering leasing. Is there anything I need to know relative to maintenance and repair of a leased car?

- Leasing 101 Maryland
- Lease Assumptions Maryland
- How a loan works Maryland
- Auto Leasing Basics Maryland
- Auto Leasing Pros and Cons Maryland
- Certified Pre-Owned Vehicles Maryland
- Auto Lease Glossary Maryland
- Transportation Lease Maryland
- New Car Leases Maryland

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