195 E. University Parkway
Orem, UT 84058pause
Loan payments contribute to the eventual ownership of a vehicle, while lease payments apply only to the short-term use of a car.
Owning a lease vehicle is possible if purchased outright after the lease period ends.
A typical lease period runs between 24 and 48 months.
Three important factors - adjusted capitalized cost, residual value and the money factor - determine the monthly rate of a lease.
Closed-end leases set a fixed residual buy price at the beginning of the term, while open-end deals base the final buy price on a vehicle's actual market value at the end of a lease.
Pay more money down initially to reduce monthly loan payments. Otherwise, a typical down payment ranges between 10 to 20 percent of the total cost.
Many used vehicles require down payments of at least 20 percent and include interest rates between 9 to 10 percent.
Lease agreements usually limit mileage from 12,000 to 15,000 miles annually. Beyond these figures, fees in the range of $0.10 to $0.25 per mile begin to accumulate.
If you plan on customizing your vehicle, you need to finance with a loan. Leased vehicles must be returned under factory specification.
4175 W 3500 S
West Valley, UT 84120597 East 1000 South
American Fork, UT 8400364 E. 900 South
Salt Lake City, UT 84111950 W. Riverdale Road
Riverdale, UT 84405115 E. University Parkway
Orem, UT 84058198 East 500 South,
Salt Lake City, UT 84111543 South State Street,
Salt Lake City, UT 84111575 South State Street,
Salt Lake City, UT 84111150 East 500 South,
Salt Lake City, UT 84111615 W. Riverdale Road
Riverdale, UT 84405777 S. West Temple
Salt Lake City, UT 84101285 W. University Parkway
Orem, UT 84058195 E. University Parkway
Orem, UT 84058900 W. Riverdale Rd.
Ogden, UT 84405560 S 200 E
Salt Lake City, UT 84111525 South State Street,
Salt Lake City, UT 84111