Chrysler Lease Frequently Asked Questions

Many people are curious about the benefits of leasing a vehicle as opposed to purchasing one. The allure of driving a new vehicle at the end of every two or three-year contract can be enticing. Here are some common questions customers ask in regard to a Chrysler lease.

1. What Contract Lengths Are Available?

Lease contracts range from 24 to 36 months. Shorter contracts, such as 12 months, are usually unavailable outside of very rare circumstances. If you want a shorter term, it’s possible to buy out the remaining lease contract of another person’s leased vehicle.

2. What’s the Mileage Limit?

Lease contracts stipulate an annual mileage limit. While this varies between contracts, the limit is usually 5,000 to 12,000 miles per year. However, you may opt for a mileage extension that increases the mileage limit to 15,000 or 20,000 miles.

3. Should I Get Gap Insurance?

You may want to consider gap insurance if you lease a car. In the event your leased vehicle is totaled or stolen, insurance may only cover the vehicle’s depreciated value. Gap insurance covers additional costs associated with a lease, such as outstanding balances on your auto loan.

4. Can I Terminate My Lease Early?

Most contracts outline conditions for an early lease termination that require you to pay an early termination fee. The more time left on the contract, the higher the fee. To avoid the penalty fee, you may sell the remainder of your lease contract to a buyer willing to take on your lease.

Visit Brown’s Elkader Chrysler Dodge Jeep® RAM to inquire about our lease options. Lease models like the Chrysler Pacifica and more. Our dealers will be more than happy to answer your questions.