Us vs. Them
What’s the real cost of your lease?
For a lot of people considering a lease, it’s easy to get focused on monthly payments – and that’s important. But really the better question, the one that matters most, is how much that lease is going to cost you. That’s a different – and often tricky – question because all lease agreements are not created equal. At most dealerships, you can find yourself up to your neck in costs related to markup, hidden and/or excessive fees and unnecessarily high insurance premiums.
At FairLease, we do not profit from any fee. In fact, we charge only three fees, and two of them depend on how you use your car during its lease. The first is the acquisition fee, or the amount it costs us to originate your lease plus Gap Insurance, which, if your auto were stolen or totaled, would cover the difference between the actual value of your vehicle and the value of your remaining payments. The second fee is an excess mileage penalty, charged only if you exceed the mileage agreed upon in our agreement. And the third fee is the excess wear and tear fee, which applies only if your vehicle requires an inordinate amount of service at the end of your term. In other words, if your 5-year-old car looks and runs like a 5-year-old car, it’s okay with us. Finally, we are the only leasing company in the United States that requires low insurance liability coverage of 30/60/25.
The other guys? They charge plenty. And it adds up.
No matter where you’re shopping, you should know the actual cost of the car before you lease or buy it. Uncover all the fees. Call your insurance agent. Do the math. And if you need help figuring it out, feel free to call us at 214-818-FAIR or email anytime.
We want to help!