Leasing a vehicle can be a great option for many drivers, and Orlando MINI has MINI lease options that work for your budget and lifestyle. Let’s take a look at some common terms and information that can be helpful to know if you are seeking to lease your next vehicle.
One of the most appealing parts of leasing a MINI is the short duration of the contract. For those managing a budget, there can be a considerable difference in the price paid for a monthly loan versus the lease option. Leases tend to be lower in monthly payments than a typical auto loan – while also having the option for adjustable durations. These can make upgrading frequencies make more fiscal sense.
Gap insurance is a way to secure the investment of your lease even further, by helping manage some of the finances. Gap insurance helps to cover the difference between the vehicle’s actual cash value and the remaining balance if it’s stolen or totaled. This can be extremely helpful if your lease was a no-money-down option, or if you had a lease for an extended duration.
As your MINI lease draws to an end, you have options to best suit your needs. You may be allowed to purchase your vehicle for the remaining amount, or you can lease out a new MINI model. The ending of a MINI lease brings the opportunity to continue your adventure, or trade up and explore all of the MINI family.
Knowing common MINI lease terms will help you feel informed when you find the MINI vehicle you’re looking for. Stop by your local Orlando, FL MINI dealership to speak with our finance department about leasing one of our vehicles today!