LEASE A CAR IN NJ
Is it cheaper to lease or buy a car in New Jersey?
If you live in NJ and the car is registered here, the sales tax is only calculated on the total lease amount. The upfront costs can be far less than purchasing a new car.
Are there Tax benefits of leasing a car?
If the vehicle is used for business purposes, it is possible for the whole lease amount to be tax deductible. If the vehicle is split between business and personal use then only the percentage used for business can be deductible.
How old do you have to be to sign an auto lease in New Jersey?
In almost all cases you must be 18 years old to lease a car. In some cases a minor (with a valid driver’s license) can drive a leased car if a parent signs the lease.
How long is a typical car lease?
Most car leases are between 24-36 months. Anything over 36 is considered long term. And in some cases short term leases are available for 12-24 months.
Can you get a lease with bad credit?
It is more difficult to lease a car with bad credit but not impossible. Typically rates will be higher and a larger upfront payment might be needed.
Is it possible to transfer my lease to someone else?
Lease transfers are the safest way to end a lease early. There are companies which specialize in assisting those transferring the lease to others, allowing you to be out of the contract earlier than expected.
Who pays for maintenance in a car lease?
The lease contract usually stipulates that the borrower is responsible for maintenance of the automobile. Basic expenses like oil changes can often be covered but this should be confirmed before signing. Penalties can be received for any additional “wear and tear” on the car at the end of the lease period.
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We provide our VIP Leasing services to residents of all counties in NJ including:
- Cape May