Leasing is similar to a long-term vehicle rental. When the lease ends, your options include: returning the vehicle, extending the lease, purchasing it at a lower cost, or renewing to the latest model. For more information contact Tim Henize and his Lease team.
Is A Lease Negotiable?
Yes, you can negotiate the residual value, down payment, and the price of the vehicle. If you are considering a lease, we encourage you to contact Tim Henize and his Lease team to build a lease that works for you.
What Is the Difference Between Leasing and Financing?
There are a lot of similarities to financing, but the clear difference in leasing is that you do not own the vehicle at the end of your lease.
Can I End My Lease Early?
A Koch lease agreement is designed to have a term of 24, 36, 48, or 60 months. Leases can be terminated early, however with the utilization of some Ford and Lincoln rebates, you are required to run the lease for 24 months if in a personal name, or over 12 months if in a company name. Early termination of previously owned vehicles, commercial equipment, and recreational equipment do not have those limitations. Our Lease Team can offer a termination solution that best works for you.
What Are The Tax Benefits Of A Lease?
You pay less tax on a lease because you will only pay tax on your monthly payment rather than the full capitalized amount of a new vehicle.
How Does The KM Limit Work?
Estimate the number of kilometers you will require annually. Koch can offer kilometer allowances for as low as 16,000 annually to as high as 50,000 kilometers on commercial vehicles.
What Happens If I Go Over the KM Limit?
The amount charged would be 15 cents per kilometer over the stated kilometer allowance on the lease agreement. However, if you plan on returning your vehicle, Koch will assist in finding the highest market value for your unit. As such, you are only charged any negative equity compared to the unit's residual amount, if that figure is lower than the kilometer overage amount. This differs from Automaker's strict kilometer lease rules.If you intend on buying out your lease, the current kilometers are irrelevant.
What Happens At The End Of My Lease?
You have options when your lease ends including: returning your vehicle, buying out your vehicle, extending your lease, or entering into a new lease. Tim Heinze and our lease Team will work with you to determine the best solution.
Do I Pay Interest On A Lease?
Interest is calculated as it is on a finance deal. However, a new vehicle lease often offers lower monthly payments with lower interest rates and lower up-front costs compared to traditional financing.
How Does A Lease Payment Work?
When you lease a vehicle, you pay the portion of a vehicle's cost you are utilizing. This cost is calculated by: the number of months you lease the vehicle, and the number of kilometers you accumulate on the vehicle.
What Can I Lease?
Typically Koch Lincoln leases vehicles. However, we also lease all types of commercial and recreational vehicles, such as tractor trailers, trailers, motorhomes, campervans, coaches, caravans, fifth-wheel trailers, popup campers, slide in campers, boats, ATV, and more. We also lease all types of commercial equipment such as heavy-duty equipment, tools, and more. If you need it, we can lease it.