Leasing or financing a vehicle can be very complicated for someone new to the experience. Here at Presidential we can answer any of your leasing or financing questions just give us a call at 718-313-0044 or send us an email at info@presidentialautony.com. Down below we have our top most asked questions with all the answers to them. If you still have any questions be sure to call or send us an email. Drivers we hope this page helped you and we look forward to further working with you.
What is Leasing a vehicle?
Leasing a vehicle means that you take a car for 24-48 months and make monthly payments. Payments are calculated based on the value of the car and your credit score.
What is Financing/buying a vehicle?
Financing a vehicle, simply put means that you are going to own a vehicle after all your payments are made. Every month you must make payments on the vehicle and at the end of a given term, such as 60 months, you own the vehicle.
How do I make payments?
All Payments are made to the financing bank that approved the lease/finance. Most banks have an online site where you can make all your payments and see any other information concerning your vehicle.
Are there any hidden or upfront fees?
No. There are no hidden fees and the price you get is the price you pay. There are no upfront fees unless otherwise stated, also no down payments are required. To show the difference this makes, at dealerships you are forced to put more money down and pay more per month on the same vehicle that we offer you at a lower price.
When can I review the paperwork?
The paperwork is ready to be reviewed a day or two before delivery. Customers tend to review and sign the paperwork when the delivery is made. We can also provide you with copies of any paperwork that you need.
How do I place an order?
You can start to place an order when you get a quote that fits your needs. Once you get a quote you can talk to a representative via email or the phone to make the order. We will then get you the vehicle you asked for, and schedule a date and time for delivery.
How does a trade-in work?
A trade-in is being able to apply the sales price of your current owned vehicle to the terms of your new lease/finance. The trade-in process can only happen if you own/finance your current vehicle. You must then complete a trade-in appraisal that allows us to determine the market value of your vehicle.
Are there any fees charged for services provided by Presidential?
We do not charge any fees for any services. We at Presidential make our customers our number one priority, therefore we don’t want to make leasing or financing a vehicle any harder or expensive than it has to be. Our representatives offer high quality work and help you with anything you need for no extra cost to you.
Are all your cars new?
Yes, all of the cars are brand new under factory Warranty
Can I buy the vehicle at the end of the lease?
Our leases have a set buy back option if you would like to purchase it at the end of your lease term.
Where do I return the car?
Your vehicle can be returned to us.
Where do I pick up the car?
We can deliver the car to your home or you can come pick it up at our location.
Where can I service the car?
Since our cars come with full manufacturers warranty, your vehicle can be taken to any dealer for service.
What is a bank fee?
A bank fee, is an administration fee charged by the bank not by us.
How do down payments work with leasing and financing?
Down payments are not required here at Presidential, but if you like you can put one down. Down payments are not needed for leases, but if one is put down it can lower the monthly payments. For financing, down payments also lower the monthly payments and they help pay off the vehicle quicker.
Miles allowed
Leases come with a set mileage allowance per year it is recommended that you don’t go over the miles because if you do you will have to pay a fee that is $0.15-$0.30 for every extra mile.
Late charges
Every bank has guidelines and rules that regulate late charges on a vehicle.
How do lease returns work?
Every leased car must be returned by the lease termination date on the contract. The vehicle can be returned to us or any dealer with the same brand. Some banks offer a “grace period”, in which you have a few days to return the vehicle. If the vehicle isn’t returned, fees will start to accumulate.