It is not uncommon to see advertisements to lease a car with an incredibly low monthly cost. Perhaps the lease is for a car that you have been interested in for a while. The advertised monthly lease payment is much lower than any other monthly payment you have encountered in the past and so, your interest is peaked. The only question still remains; why are the monthly payment so low?
When you lease a car for this "discounted" price, the Chevrolet (%big_city1) dealer has to make up the difference somewhere. So, with leases that are lower like this, you will probably pay more upfront and possibly more at the end of your lease. The monthly payments are lower but the total cost has remained the same. This type of lease may be desirable for some consumers whom have already saved up a healthy down payment and are interested in very low monthly payments. The reasons that this lease has lower monthly payments is that the down payment and security deposit is greater and the mileage limits are decreased.
Down Payment
Larger down payments on a lease decrease the monthly payments of a lease. The total cost of the lease has not changed - the monthly costs have dropped and the down payment has increased. Unfortunately for some car buyers, a large down payment may not be an option. If a large down payment is available, it can be an easy way to lower monthly payments. A large down payment is the most typical way to afford lower monthly payments on a new Chevrolet lease.
Mileage Limits
Mileage limits is another way of decreasing the cost of a lease and thereby the monthly payments. The lease agreement dictates how many miles can be put on the car during the lease period. If the mileage limit is set very low, the cost of the lease is lowered which lowers the monthly cost. Mileage limits can be a tricky part of any lease. It is important for the consumer to accurately judge how many miles they drive in a year. If the person who leases the car goes over the mileage limit, they will have a to pay a penalty when they return the car to the Chevrolet (%big_city1) dealer. So, it is important to choose a lease with a lower mileage limit to try and save money - but it is also important to allow enough miles that the driver wont exceed the limit.
If you have further questions, please contact you're Chevrolet (%big_city1) dealer
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