Frequently Asked Questions
Q. |
"Is leasing a viable way to finance?" |
A. |
Leasing is a viable option for those who like to switch cars frequently, as well as for those who are looking to make a long-term investment. Premier is associated with hundreds of authorized and independent dealerships throughout the country. In addition, we are sponsors of numerous well-known automotive events and auctions. Our biggest source of credibility is our relationship with our customers, with repeat business representing a majority of our current portfolio. |
Q. |
"What is a Simple Lease™?" |
A. |
The PFS Simple Lease™ is an open-ended lease with four options at the end of the term.
- Pay the residual and own the car outright.
- Sell the car, pay the residual, and keep any difference.
- Trade the car into a dealer who pays the residual, and you keep any difference.
- Refinance the residual through a new lease without a large cash outlay and continue to own the car.
|
Q. |
"Can I get out of my lease early?" |
A. |
The PFS Early Termination Program allows you to terminate your lease. You simply pay the balance owed, which is calculated using a simple interest formula. |
Q. |
"Are there hidden fees at the end of my lease?" |
A. |
Our leases are structured with an agreed upon residual. By configuring our leases this way, there are no surprises when your lease term is up. You know what you will owe at the lease's inception. |
Q. |
"Are there mileage limitations?" |
A. |
Standardized lease requirements dictate that leases must be written with mileage limitations. However, by satisfying the terms of the lease agreement all mileage charges will be waived. |
Q. |
"Can I lease my vehicle in my business name?" |
A. |
Yes, you can lease in a business name. This can be beneficial because it allows you to use pre-tax dollars to make monthly payments. Of course, it is always wise to consult with your accountant regarding any tax decisions. |
Q. |
"Do I need a down payment?" |
A. |
Down payments vary depending on the type of vehicle you are interested in, the price of the vehicle, and your credit rating. |
Contact us with any further questions.
