GMC Lease FAQ

If you're the kind of person who likes having the latest technology and most-advanced safety features, buying a car may leave you feeling hemmed in. There is an alternative: talk to your GMC dealer near me about getting a Chevy lease from Nick Abraham Buick GMC for the flexibility you desire and deserve. We'll help you navigate this sometimes-confusing alternative to purchasing.

What is a Car Lease?

A car lease amounts to a long-term vehicle rental. The lessor, GM Financial Services, owns the car. The lessee - you - will be leasing from them even though your GMC service needs and other day-to-day concerns will be taken care of here at Nick Abraham Buick GMC.

What and When is "Lease Inception?"

It's the date your car lease starts, and it often comes with inception fees like tax, title, and processing fees.

Will I Need a Security Deposit?

Usually, yes. Much like the deposit on a home lease, it's a guarantee against nonpayment on your new GMC model. Typically equal to a month's payment, it may be higher if you have a lower credit score; it may also be used to offset penalties at lease end.

Do Leases Come with Any Penalties?

There are two possibilities. There are penalties if you exceed your car lease's mileage limit or wear allowance. We suggest thinking about your driving habits; those with long commutes or a love of road trips often find buying more cost-effective.

Should I Get GAP Insurance?

GAP, or Guaranteed Asset Protection, covers the "gap" between the lease balance, penalties, and depreciated value if your vehicle is totaled before the lease is paid up (or before your auto loan is paid off). It's worth having; your GMC dealer will help you get started.

What if I Decide I Like the Vehicle I Leased?

The cost to buy is disclosed at lease inception. If you'd rather buy than take on another lease, we'll make it happen.

Why Lease from Nick Abraham Buick GMC?

Nick Abraham Buick GMC ensures that every part of your car lease stays transparent and painless. More than that, we're also here for your GMC parts and service needs, and will help you get the most from every drive. The better question is, why would you shop anywhere else?