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Frequently Asked Questions?

Do I have to pay a down payment?

A common perception is that you must pay something upfront in order to get a good deal. That’s absolutely not true. Our criteria is simple… Unless a down payment program allows for a drastic change in the overall program (i.e. the bank's score ratings, interest rate, etc.), why not keep the cash in your pocket? We understand that your goal is the lowest monthly payment as well as the lowest down payment.

According to most advertised factory lease programs in the market: “Yes”, you do have to make a down payment according to the fine print, or the surprises that await you once you invest hours at a dealership. However, at Gem Auto Leasing we have the true $0 ZERO down payment program you’ve been looking for.

How is leasing different than a purchase?

Once you’ve made the final payment on a lease, you don’t own the vehicle, but you do have options. (Options include…purchasing the vehicle for the pre-determined residual value, trading in or selling the vehicle, or turning the vehicle back into the bank.

Are there any fees for applying for a lease and or Finance with Gem Auto Leasing?

Not at all. Feel comfortable with our no obligation process to lease or finance when requesting a new vehicle quote from Gem Auto Leasing.

What determines the lease quote amount and how is it structured?

A lease quote is based upon the client's needs, financial situation and preferences. The lease quote can be structured so inception fees and sales tax are paid upfront, or incorporated into the monthly payments. The structure of the lease, which include the length of term and mileage allowance, are also taken into consideration. It is difficult for the average consumer to fit into a "cookie-cutter" - "one-size fits-all", type of lease deal. The Gem Auto Leasing team is constantly updating our software and technology to ensure we offer deals and service no one else in the industry can match.

I'm new to car leasing and financing, what do I need to know?

The best place to start learning about car leasing is right here. Although there is a lot of information, you don’t need to try to soak it all up at once. Go through it quickly the first time, making mental notes of sections that you want to return to later for a more detailed reading. If you don’t get all your questions answered please call 718-646-4361 or send an email to our Leasing Experts.

How long does the Leasing process usually take?

The car you have chosen can be in your possession within hours of submitting your inquire online. Gem Auto Leasing invests in the latest and greatest technologies to accommodate our society’s desire to save time and money when getting their next vehicle. Our clients are typically driving their new vehicle within the first 24 hours of completing our quick & easy online form.

How is a lease similar to a purchase?

The best loans and leases on the market are all based solely upon the individual’s credit score and credit profile.

You have the option to pay off or trade in both a purchase and leased vehicle at any time.

Your monthly payment goes down the longer your finance term is. Usually a 3 year term is less per month than a 2 year term, a 4 year term is less than a 3 year term, etc.…

You don’t actually own anything until you have paid off the remaining balance on your purchase or lease.

The amount of miles you drive affect how much you pay to drive your vehicle. A vehicle with higher mileage is worth less than the same vehicle with lower miles. Even when you purchase a vehicle and then trade it in, you still pay for the miles you drive in the trade in value of your vehicle.

Will having financial issues and a low credit score prevent you from leasing a new car?

Though leasing is a preferred method of financing, a few bumps and bruises on your credit, or with your current financial situation, will certainly not prevent you from leasing a vehicle. If your credit has made it to a state that reestablishing your credit is the smartest option then a Co-Signer on the lease or finance will definitely help your chances.

Does warranty still apply if I get the car from you?

Absolutely!  As a client of Gem Auto Leasing your warranty on any vehicle comes with the factory warranty and will work exactly the same no matter where you choose to purchase or lease it. In addition, Gem Auto Leasing has several beneficial  warranty options that can extend beyond the factory coverage.  All you have to do is ask.

Need Help ?

Our professional staff is always here to help. Reach out to us and we will be sure to take care of any of your automotive needs.

Contact Us

P. (718) 646-GEM1 (4361)

P. (718) 646-GEM2 (4362)

F. (718) 646-GEM3 (4363)


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