If you are going to sign a Mazda lease, you need to be familiar with the terms of that contract. Here at Route 9 Mazda, we’ll help you make an educated decision and pick out the right Mazda car or SUV for you. These are some terms you should know before you lease.
Lessor and Lessee
These are two good terms to learn first. The lessee is the person leasing the car, so that’s you. The lessor is the entity leasing the car to you, the company that actually owns the vehicle.
Depreciation
This refers to how a vehicle’s value declines over time. When you make your lease payment, a good chunk of it reflects how much the car is depreciating in value that current month.
Residual
This refers to how much your car will be worth after your lease ends. It is good to know and understand this because having the right info can help you decide whether or not you should purchase your vehicle at the end of your lease term.
Disposition Charge
If you turn in your car at the end of your lease, the dealer will usually charge a small fee called the disposition charge. This helps them clean the car and get it ready to sell to someone else.
Buyout Price
On the other hand, if you decide to buy your vehicle at the end of your lease, the buyout price is the amount you’ll pay to purchase your Mazda car.
Apply for a MAZDA Lease at Route 9 MAZDA
If you have any more questions about leasing a new Mazda car, visit our Mazda dealership in Poughkeepsie, NY. Our knowledgeable dealers and financing staff can answer any questions about leasing and our latest offers.
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