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5010 Alameda Blvd NE, Albuquerque, NM, 87113

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Dealership Info

Phone Numbers:Online Showroom Hours:
  • Mon - Sat12:00 AM - 12:00 AM
    (Always Open for Online Shopping)
  • SunClosed
Sales Hours:
  • Mon - Sat8:00 AM - 6:00 PM
  • SunClosed
Service Hours:
  • Mon - Fri7:30 AM - 6:00 PM
  • Sat8:00 AM - 3:00 PM
  • SunClosed
Parts Hours:
  • Mon - Fri7:30 AM - 6:00 PM
  • Sat8:00 AM - 3:00 PM
  • SunClosed
Main (505) 797-3600

Terms For Car Leases

Terms For Car Leasing

What Can You Expect from Car Leases?

Processing your car lease agreement conditions, terms, and definitions is seldom called a simple task, by and large by many of us that have a preference for language free of legalese. Just to be clear, buying is not the same as leasing. In reality, it is almost like a rental. As such, the most essential contract terms are in regards to responsibility, ownership, and liability. Among these issues are leased vehicle insurance, wear items, and lease return or extension.

Read More: Buy vs Lease

car leasing insurance requirements

Requirements for Car Leasing Insurance

Insuring a leased vehicle is no different than getting insurance on any other vehicle. With leasing, however, the agreement typically requires the lessee to have comprehensive auto insurance. To be clear, the leasing company owns the vehicle, the contract provides the obligations that permits you to rent it. Normally one of the conditions is full vehicle protection, also known as comprehensive insurance.

excess wear vs normal wear

Normal Wear vs Excess Wear

Exactly what is designated as excessive vehicle wear and tear usually is stipulated in the normal lease. This is very significant because when you bring back your leased car you could be charged for damage and wear that falls outside of the lease. Of course, if that makes you uneasy, then be sure to inquire about Excess Wear & Tear Insurance to take life’s ambiguity out of the consideration.

extending or returning a car lease

Extending or Returning a Vehicle Lease

Several months before the end of the agreement, we recommend getting in touch with the company you are leasing from to establish your end of lease procedures. In addition to scheduling a lease return inspection, you might also want to request a vehicle lease extension or an auto lease buyout. They allow you to extend your lease for a longer time, while the other permits you to buy your leased car.

Land Rover online car buying Albuquerque  NM

Auto Leasing Agreement Terms – Frequently Asked Questions

Can I Get an Auto Lease Extension?

A lease extension allows you to extend your current vehicle lease agreement for more time. Depending on the case, this could be 6 months, 12 months, or even go month-to-month. The best way to find out is to ask.

Am I Able To Use My Car as a Trade-In?

Of course, you can use your car as a trade. Taking advantage of the equity from the trade can lower the monthly payment, but it won’t modify the total cost of the lease.

Can I Buy Out My Lease?

An auto lease buyout is an option at the end of the lease that lets you purchase your own leased vehicle for a predetermined price based on a combo of current market value and the amount you have already paid towards it.

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Contact Us

(505) 797-3600

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5010 Alameda Blvd NE • Albuquerque, NM 87113

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Today's Hours:

Open Today! Sales: 8am-6pm

Open Today! Service: 7:30am-6pm

Open Today! Parts: 7:30am-6pm

Land Rover Albuquerque 35.1838378, -106.5886568.