A discount offered by a manufacturer to current customers who already lease or own one of their vehicles.
Example:
If you currently drive a Nissan, Nissan may offer additional savings toward your next Nissan lease.
Conquest Rebate
A special incentive for drivers switching from a competing brand.
Example:
If you currently drive a Honda, another manufacturer may offer extra savings to convince you to switch.
Due at Signing
The amount due upfront when starting the lease. This may include:
First payment
Registration
Taxes
Dealer fees
Down payment
MSRP
The manufacturer’s suggested retail price of the vehicle before discounts or incentives.
Residual Value
The estimated value of the vehicle at the end of the lease term.
Higher residual values often help lower lease payments.
Lease Term
The length of the lease agreement. Common lease terms are 24, 36, and 39 months.
Mileage Allowance
The number of miles included per year in the lease agreement. Common options:
7,500 miles
10,000 miles Most Common
12,000 miles
15,000 miles
Disposition Fee
A fee some leasing companies charge at the end of the lease if you return the vehicle instead of purchasing it.
Acquisition Fee
A bank fee charged to start a lease.
Dealer Incentives
Special discounts or programs offered by manufacturers or dealerships to reduce lease costs.
Sign and Drive
A lease promotion with little or no money due upfront.
Co-Signer
Someone added to the lease application to help qualify based on credit or income.
Still Confused About Leasing?
No worries. Most people aren’t expected to know all these terms.
Reach out anytime and we’ll walk you through everything in plain English without the pressure.
Still Confused About Leasing?
No worries. Most people aren’t expected to know all these terms. Reach out anytime and we’ll walk you through everything in plain English without the pressure.