Lease To Own Frequently Asked Questions and Our Favorite Answer…
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End Your Buy Here Pay Here Headaches Now – Finance or Lease To Own
All Taxes, Titling, Initial License Plate Fees, Oil Changes & Warranty^ can be included!
Here’s Why Ds “Lease To Own” is Way Better than “Buy Here Pay Here Loans”
Recently Ds made an important decision to offer credit challenged customers in Central Illinois a new Lease/Rent To Own program so they can afford to drive and eventually own better quality vehicles than high interest -Buy Here Pay Here- car lots can typically offer. In fact there are no interest charges on any lease at Ds! And, anytime a customer – Lessee chooses to trade-up for a different car or wants to end their lease for any reason they can return their vehicle or trade-up anytime with no questions asked!
Leased vehicles also come with a Limited. Drive Train Warranty^ to prevent catastrophic repair costs while leasing or renting. The only thing Ds’ asks is that Lessees keep their new cars clean and well maintained.
I have bad credit & my wife has no credit. Can we qualify for Ds’ Lease To Own?
With Ds Lease To Own, your credit score doesn’t matter. You read that right! IT DOES NOT MATTER! We don’t even check your credit score so there’s no need to worry about another inquiry appearing on your credit report. We look at your income, your stability, and your references as the primary factors and use that information to help determine the level of payment you can afford.
Should I even apply if I’ve been turned down for financing at other dealerships?
Absolutely, apply today and start driving! This is the perfect program even if you are not sure you will be able to qualify for a loan or a lease, we love to say YES! When all other dealers have told you NO – Ds Lease To Own can tell you YES! You are not applying for a loan. You work with the Ds to determine a payment level you can afford and then we will match you up with the right car!
Isn’t Car Leasing mostly for people that are very well off?
When most people think of leasing, they think of the TV commercials that advertise to lease brand new vehicles. Obviously, new vehicles are much more expensive than used vehicles so it’s only natural to assume that leasing is for well-off people. This couldn’t be further from the truth when it pertains to Ds leasing program. Ds Lease To Own is a good fit for people of all income levels because we match you to the vehicle that best fits your budget.
Is buying a car cheaper than leasing a car?
If you are the type of person who prefers to trade cars more often, then you are probably losing money with each trade, making “buying” the car more expensive. In the case of most of Ds Lease To Own clients, you can’t get financing to buy the car you really want so being cheaper or more expensive really isn’t the whole issue. The bigger issue is that you need or want a nice car and Ds Lease To Own can get you in one today.
What kind of cars are available for Ds Lease To Own?
There is a wide variety of vehicles offered with Ds Lease To Own. You will often find vehicles between 5 and 10 years old and in good condition. Are they perfect? No…but Ds is picky about which vehicles they offer on their program. Most vehicles come with an engine and transmission warranty to cover the high cost repairs.
Can I really return the car at any time, for any reason?
It’s true! You are simply ending your optional residual buyout provisions. In the lease agreement on Line 14 you can see for your self! Our unique Ds Lease To Own contract states the minimum lease “term” “You may end this lease/rental anytime since its TERM LENGTH is actually payment to payment with no future rentee/lessee obligation.” No questions asked, just turn in the keys, leave the vehicle in good condition, be current on your payments and you can walk away with no further payments or penalty. No repossession will appear on your credit history. When you get back on your feet financially, come back to the dealership and Ds will help get you back into another nice leased car.
If I get bored with my car, can I return it and get a different one?
Yes you can! You may end your lease agreement’s optional residual buyout provisions at any time for any reason so it’s definitely possible to change vehicles anytime.
Is there a down payment required?
Typically to get started you will need to pay an origination fee of *$495, plus sales tax, title, license plates, etc. and your first periodic payment. Ds accepts cash, checks, trade-ins and short-term lay-a-ways are possible so you will have some time to pull your up-front money together when needed. If you happen to have a larger amount of upfront cash available Ds can help you lease an even newer lower mileage car for an affordable lease/rent payment.
This Ds’ Lease To Own program sounds too good to be true!
There is no catch – it’s really as good as it sounds! What other program out there will help you get into a QUALITY VEHICLE at a payment level that fits your budget, a dealership that won’t judge you based on your credit score, and a salesperson who genuinely wants to help you and keep you as a long term customer? What other program lets you trade-up anytime or return your vehicle at any time for any reason without any questions and then still welcome you back for another vehicle once you get on your feet again?
Get Pre-Approved Now! -No Social -No Birth Date -Soft Pull -No Credit Impact
Fast Easy Financing as Low as 2.99% with Approved Credit*
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To Get Your Lease To Own Vehicle Today!
Please Bring These Items Into Ds:
- Two recent paycheck stubs or two years of tax returns if self employed;
- A valid Drivers License;
- Your upfront cash and/or trade-in (*$495 or more in cash or a trade-in);
- Be prepared to bind insurance;
- Have a list of at least six friend and family references with addresses and phone numbers;
- No credit check is necessary and most applicants are immediately approved.
- *Approval is subject to LTO-Lease To Own down payment & lease payments approved.
- Ds leverages their good credit standing with a bank/leasing company to fund a lease on your behalf;
- Turn your vehicle in for any reason or Re-Lease a different vehicle at any time;
- The lease agreement has a fair market residual buyout option based on 74 semi-monthly payments over the course of approximately 3 years;
- Payments use a lease factor with no interest they are set up on a semi-monthly schedule;
- PAYMENTS MUST BE MADE ON OR BEFORE THE DAY THEY ARE DUE – THIS IS MANDATORY;
- You have Limited Miles 1,250 miles per month with quarterly inspections required. Up to 15,000 total miles per year are allowed;
- Additional miles are 10 cents per mile billed quarterly;
- Full Coverage Insurance with a $500.00 deductible and with NO EXCLUDED DRIVERS LISTED ON YOUR POLICY are Lease To Own Requirements;
- Approval, payment, and down payment are based on Stability, Ability and Reliability;
- Income Requirements are based on each customer’s household expenses;
- Requirements differ by vehicle for down payment and monthly payment amount;
- Cash requirements upfront are a minimum of $495.00 down plus Tax, Title & License. Possibly additional cash down may be required;
- Typical payments range from $49.00 up to $127.00 per week;
- An Engine & Transmission Warranty is included for the duration of your lease, if you are paid current and your maintenance is as agreed;
- The Engine & Transmission Warranty has a $200.00 deductible you are responsible for;
- Basic vehicle repairs and Maintenance are the responsibility of the Lessee;
- Oil Changes are required prior to 4,000 miles;
- Oil Changes are reimbursed up to $20.00 for standard oil changes and $25 for recommended synthetic blend oil changes.