Things Prospective Lessees Should Know Before Signing a Chevy Lease

If you’re thinking about signing a Chevy lease, we encourage you to apply for Chevrolet financing through our finance center. Before you sign your contract, though, there are a few things you should know. A lease agreement is a binding contract, so it’s important to talk to the team at Kearny Mesa Chevrolet about the intricacies of your agreement before you sign on the dotted line.

Lease Term

A lease’s term is the number of months the contract will remain in force. While leases can last for longer or shorter periods, most contracts remain in effect for 36 months.

The term of a lease is an important consideration when it comes to Chevy service. If you lease a new Chevy vehicle for a period that exceeds the car’s warranty, you may have to pay for formerly covered repairs out-of-pocket.

Insurance Requirements

Many drivers who’ve never leased an automobile before aren’t aware that they may have to satisfy certain insurance requirements in order to lease a vehicle. In some cases, you might have to increase your existing coverage or add liability coverage to your auto policy. If you see “100/300/50” in your contract, it’s likely you’ll need to increase your liability coverage to at least $100,000 per person, $300,000 per accident for bodily injury, and $50,000 for property damage.

Your contract may also include a provision for GAP insurance. This type of coverage will pay the difference between what your standard car insurance covers and the balance you owe for your leased car if your automobile is stolen and still missing or destroyed. GAP insurance is a wise purchase for most lessees because it’s moderately priced and has the potential to save lessees thousands of dollars should a costly theft or accident occur.

Mileage Cap

When they contact our San Diego, CA Chevrolet dealership, inexperienced lessees are often surprised that their lease contract will include an annual mileage limit. A mileage cap is standard in car leases, although the cap often varies from one dealership to another. If you exceed your allotted miles, you’ll need to pay a penalty at the end of your contract; to avoid that, it’s advisable to negotiate the mileage cap before you sign your lease agreement.

Sign a Chevy Lease in San Diego, CA Today

Now that you’re even more familiar with Chevy leases, you’re ready to sign a lease contract. Look through our Chevrolet lease offers now. If you have any questions about our offers, visit our Chevy finance center — we can’t wait to help you!