What credit score do I need to lease-to-own a car at Auto By Rent?
You don’t need any specific credit score. We don’t perform traditional credit checks. Instead, we focus on stability. This approach helps us approve customers who might not qualify through conventional financing.
How much is the down payment for a lease-to-own vehicle?
Down payment amounts vary based on the specific vehicle you choose and your qualifications. We offer flexibility with down payments and work with your situation to find an amount that makes sense for your budget. Better qualifications often allow for more flexible down payment options. We also regularly run promotions that can help reduce your upfront costs.
What are the typical weekly payment amounts?
Most weekly payments range between $80 and $135, including sales tax. Your exact payment depends on factors like your chosen vehicle, down payment amount, and lease term length. We’ll provide you with clear payment information before you commit to any agreement.
How long are the lease terms?
Our lease-to-own agreements typically run between 2.5 years to 4.5 years. The specific term depends on the vehicle and your qualifications. Once you complete the lease, you own the vehicle.
Do you handle vehicle registration and licensing?
Yes, we take care of licensing and registration for you during your lease period. The vehicle comes tagged and ready to drive with no upfront sales tax required. We also pay the property taxes on the vehicle while you’re making payments.
What happens if the vehicle needs repairs during my lease?
All vehicles come with warranty coverage for your peace of mind. Additionally, our on-site service facility can handle repairs and maintenance. We even offer financing options for certain repair needs to help manage unexpected costs.
Can I pay off my lease early?
You can discuss early payoff options with our team. We’re happy to work with customers who want to complete their agreements ahead of schedule.
What types of vehicles do you have available?
Our inventory includes a wide selection of quality pre-owned cars, trucks, SUVs, and vans. Inventory changes regularly as vehicles are leased and new ones arrive. Visit our lot or check our website to see current availability.
Do I need to pay sales tax upfront?
No, you don’t pay sales tax all at once. Sales tax is included in your weekly payments, making the initial cost much more affordable. This spreads the tax burden throughout your lease period rather than requiring a large upfront payment.
What areas do you serve?
We serve Springfield, Missouri, and the surrounding communities. Customers from throughout the region visit our convenient Springfield location to take advantage of our lease-to-own program.
Do you take trades?
Yes, we will take any vehicle that is paid off and titled in your name.
Do you require an active driver’s license?
Yes, our lease-to-own program requires all lessees to have and maintain an active driver’s license.
Does Auto By Rent offer extended warranty coverage?
Yes, we offer our Pay-N-Go Extended Warranty for just $15 per week ($65 per month). This powertrain warranty covers your vehicle for the life of your lease or 50,000 miles, whichever comes first. It protects you from expensive engine and transmission repairs, which can cost thousands of dollars. Pay-N-Go includes a 20% deductible plus fluids and shop supplies on covered repairs. All Auto By Rent vehicles are eligible for this coverage.
What is the Liability Damage Waiver, and do I need it?
Our Liability Damage Waiver is an optional protection that releases you from significant financial responsibility if your leased vehicle is damaged or stolen. It covers repair costs beyond a $500 deductible. This is a contractual agreement with Auto By Rent, not an insurance policy. With the Liability Damage Waiver, you can carry liability insurance without comprehensive and collision coverage, which can save you money on insurance premiums. Coverage is only valid when you follow all lease terms and driving laws.