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The company announced today that customers can now lease its flagship SUV, the R1S. While the brand has expanded it to customers in one more state, Illinois, where the vehicles are manufactured, it remains exclusive to residents of 15 states. This translates to an estimated monthly lease payment of around $1,056 on a 36-month term.
Obtain pre-approval from a financial institution to set a budget and streamline the car-buying process. Consider making a larger downpayment, which can further enhance your negotiating power and reduce the borrowed amount. If your credit score has improved since the initial loan, you may qualify for a lower interest rate.
The website explicitly says “No Dealer Add Ons Ever” Some car dealers will say anything, even stretching the truth, to get customers in the door. ” The dealer appears to be trying to sell that upgrade instead of offering it and letting the customer decide. The additional costs largely come from junk fees.
Typically, when leasing, you’ll come across various requirements including credit checks, proof of income, and possibly a sign-on fee (often referred to as a downpayment or capitalized cost reduction). This fee can reduce the monthly payments but is not always necessary. Some common lease terms are two to four years.
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