Leasing FAQs

Have You Ever Considered Leasing a Used Vehicle? Learn More at Reagor Dykes Auto Mall Midland

When it comes to buying a used vehicle, you have one financing option and one only: a loan. Or do you? Actually, if you choose to shop at Reagor Dykes Auto Mall Midland, you can enjoy the benefits of buying a used vehicle and leasing that vehicle. It's a unique offering and one that we are proud to provide to our customers. 

Throughout the time that we've been offering this option, we've heard a few of the same questions frequently from our customers. We're going to list those questions here, along with our responses to help you understand more about how the process works. It will also help you determine if leasing is the best option for you.

"Is leasing a vehicle is the best option for me, or would I be better off purchasing?"

This question is one that we hear frequently and is best answered by asking a few questions of our own. First, are you someone who loves driving newer model vehicles? Do you typically drive less than 15,000 miles per year? Do you tend to trade in your vehicles frequently? If your response to all of these questions was a "yes," then leasing is likely a good option for you.

"Will my monthly payments be the same whether I lease or buy?"

On average, you'll enjoy a less expensive monthly payment when you lease a vehicle rather than buy it. This is really important when you think about the type of vehicle that you want to drive. When you lease, you can actually enjoy a more expensive vehicle than you might typically be able to afford. Splurge on that upper trim level, or choose a model that you thought was out of your price range.

"Are there other benefits to leasing a used vehicle?"

Taking advantage of pre-owned vehicles is a wise decision. Depreciation hits on a new vehicle are staggering compared to a used vehicle. When you buy used through our dealership, you're also going to get a high-quality vehicle, one that will last you for many months and miles to come. Repair costs will remain low-to-none, just as with a traditional lease, depending on the lease agreement.

"Will I be charged for mileage that goes over my lease agreement?"

In short, yes. You are still required to stick to the agreed upon mileage that is spelled out in your lease contract. Your mileage limit can be negotiated, however. You also have the option of purchasing extra miles at the start of your lease term.

"What do I do at the end of my lease term?"

At the end of your lease period, you have three options:

  1. Purchase the leased vehicle and continue to enjoy the great car, truck or SUV for months to come.
  2. You can return the leased car and choose a new car to lease, if you prefer.
  3. Return your leased vehicle and walk away, if you prefer.

GAP insurance is another consideration to consider. This special automotive insurance will cover the full cost of the car in the event that your leased vehicle is stolen. Likewise, if your leased vehicle were to be damaged beyond repair, it will cover this cost as well.

Normal wear is still an important thing to keep in mind. Just as with a lease of a new car, your vehicle will be assessed for wear or damage that falls above the "normal wear" category. If you have any questions about what constitutes normal wear, please just ask.

At Reagor Dykes Auto Mall Midland, we look forward to helping you find that just-right pre-owned vehicle to lease. Why not stop in today to learn more about the vehicles on our lot currently? Ask us any questions about either the vehicles themselves or our unique used car lease program.

Contact

Reagor Dykes Auto Mall Midland

2200 West Wall
Directions Midland, TX 79701

  • Sales: (888) 643-8789

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