Leasing a Used Car from Easterns | Pre-owned Car Dealership Baltimore MD | Washington DC Used Cars

Leasing a Used Car from Easterns | Pre-owned Car Dealership Baltimore MD | Washington DC Used Cars


Hi. I’m Joel Bassam,
Director of Marketing for Easterns Automotive Group. And today I want to tell
you about a new program that we have where you
can lease a used car. Many people don’t realize that
you can now lease a used car. And for those savvy consumers
who already consider buying used to maximize value
and minimize appreciation, you now have another option. Now when you lease a
car, you’re effectively financing the difference
between the current value of that vehicle and
the set residual value, two, three, or four
years down the road. That residual value, set
by the financing company, is only an estimate of what
the market value of that car will be at the end of your term. Probably the biggest
benefit to leasing a car is at the end of
your term, you’re able to walk away from it
and move on to the next one. There’s no worry about
equity or market value of that existing car. But there is a flip
side of that coin. While you don’t
have to worry about negative equity or owing more
than the car is currently worth to the financing
partner, you’re not going to get the opportunity
to own the asset outright just by finishing your payments. The only opportunity you’re
going to get to own the assets is by purchasing the vehicle at
the set residual value that you signed on the original contract. Thanks for checking
out this video and learning about how you
can actually lease a used car, which is a brand new program. You can see more
videos just like this by going to our website or
subscribing to our YouTube channel.

About the Author: Michael Flood

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