What is Leasing?
Leasing is nothing more than a method of paying for the use of a vehicle over a specified period of time. It may sound like renting, but don't get the two confused because they are very different. Automobile leasing is based entirely on the concept that you pay for the amount by which a vehicle's value depreciates during the time you're driving it. Depreciation is the difference between a vehicle's original value and its value at lease-end (residual value), and is the primary factor that determines the cost of leasing.
When you lease, you negotiate a purchase price with the dealer just as you would when you purchase a vehicle. This key point is not well known and dealers have even told customers that, because its a lease... price is always full sticker price. This is just simply not true. Generally the only time you would not need to negotiate price is when the dealer is offering a special advertised deal in which the price and other factors of the lease are already set to attract your business.
As a leasing consumer, you have the option to shop for your own leasing company, bank, or credit union to find the better lease terms than the dealer's leasing companies can offer you. These independents can often arrange to get you an even better price due to fleet purchasing arrangements with the manufacturers.
The dealer is not the leasing company, but rather an agent acting on behalf of the leasing company. So you do not actually start to deal with the leasing company until your first monthly payment. The dealer works out the terms of the leasing agreement with you on behalf of the leasing company. For this service, the leasing company usually pays him a commission, which adds to his profit on the deal. Once the contract is signed, your relationship is with the leasing company, not the dealer, unless it's an issue with the vehicle itself.
Leasing companies used by dealers are usually subsidiaries of the car manufacturer (called "captive" leasing companies), such as Ford Motor Credit or General Motors Acceptance Corporation (GMAC). However, dealers can also offer leases from banks and other lending institutions with whom they've worked out mutually beneficial business terms.
Which is where Zeemac Lease comes in. You have the convenience of everything stated above plus we have a full repair shop onsite to make it even more convenient when servicing your vehicle. The salesman you deal with at Zeemac either on the phone or in person is the same salesman that will be with you and work with you throughout the duration of the lease term and help to determine what you would like to do at the end of the lease.