
When it comes to a Cadillac lease, the more you know, the more confident you’ll feel about picking out a great car at a great price. That’s why our team at Fields Cadillac Jacksonville is sharing a closer look at some of the top lease terms you’ll want to know before you get started.
Lease
Other than paying in full upfront, drivers have two main options to pick from when it comes to getting a new Cadillac: financing and leasing. A lease is more like a long-term rental rather than a purchase since you’ll return the vehicle at the end of the lease term. At the end of the term, you can buy your vehicle or lease a brand-new model.
Credit Score
Your credit score plays an important role in the vehicle financing process, but it’s even more critical when you lease. You typically need a very high credit score to qualify for a lease. Your credit score tells the lender how reliable you are to lend money to, which is why drivers with higher credit scores have better lease terms.
GAP Insurance
GAP Insurance, or Guaranteed Asset Protection insurance, is usually a requirement to lease a vehicle. It covers the difference between the value of the vehicle and your traditional insurance coverage and will protect you and your lease team in the event of theft or totaling.
Early Termination
Most vehicle leases last two to five years, and you want to take care to determine how long you want to lease. If you try to return your vehicle early, you may have to pay early termination fees, which can add up quickly.
Mileage Allowance
Most leases come with a mileage allowance, which means a standard number of miles you can drive in a year before you are charged extra fees. Read this part of your agreement carefully, so you don’t have any surprises when you return your car, and try to keep your mileage under 8,000-10,000 per year.
Lease a New Cadillac in Jacksonville, FL
You can learn more about the leasing process right here at Fields Cadillac Jacksonville. Visit our dealership to pick out the perfect new model for your lease today!