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Leasing With Tiger Auto Group
Not a big fan of car shopping? Let’s fix that together!

At The Tiger Auto Group Lease Store, we’re turning auto leasing on its head. With no pressure, no runaround and no hidden fees, we promise you’ve never had more fun shopping for a new car.

The popularity of leasing a car has exploded in recent years, with individual consumers accounting for the bulk of the increase. Leasing has grown more than tenfold in less than a decade, and now accounts for more than 35% of the 17 million-plus vehicles sold in the United States.

Why the dramatic upsurge in auto leasing?

The ever increasing cost of new vehicles combined with a decline in the disposable savings of Americans and changes to the tax laws are the main causes.

In 1987, more than 70% of disposable savings were available for the purchase of consumer goods. By 1993 that figure had declined to less than 40%. This year, the percentage continues its downward slide.

Additionally, the many tax deductions that favored purchasing over leasing were eliminated. Since those tax laws were changed, leasing has enjoyed a steady increase every year for the last ten years.
 
Why Choose A Lease?

No Money Down

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Lower Monthly Payments

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More Flexibility

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Any Make, Any Model

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No Money Down

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No down payment and no deposit leases are The Tiger Auto Group Lease Store’s specialty.
Lease Types
closed-end leases

In a closed-end lease, you make a predetermined number of lease payments for a specified period of time and return the vehicle at the end of the term. Barring physical damage to the vehicle, excess wear and tear, or additional mileage beyond the mileage allocations in the lease, you have no contingent responsibility for the vehicle’s value at the close of the lease. With a closed-end lease, any loss of value through depreciation of the vehicle is the responsibility of the leasing company. The Lease Store (TLS) is a closed-end lease.
open-end leases

In this type of lease, you take the “risk” that, at the end of the lease term, the vehicle will have a market value comparable to the amount specified in the lease contract, sometimes called an “estimated residual value.” If the amount the car is resold for is equal to the estimated residual value, you owe nothing. If it isn’t, you may owe all or a portion of the difference, often called an “end-of-the lease payment.” The Federal Consumer Leasing Act provides a measure of protection for leases in open-end leases by limiting the end-of-term liability to no more than the total of three monthly payments.
Lease vs Purchase
You’ve decided you want a new car. Should you obtain a loan, lease, or pay cash? There are pros and cons for all three methods. You should be able to make an informed choice about what’s best for you based on the operating cost, equity and ownership, and tax and insurance considerations.

Paying Cash

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Initial Costs

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Equity & Ownership

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Taxes & Insurance

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Other Differences

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Paying Cash

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Only about 10% of all automobile purchases are in cash. If you pay for the entire cost of your car with cash up front, it’s all yours and you don’t owe anything on it. However, you won’t have that money available for investing, for other uses or in case of an emergency.
Initial Lease Costs
Before signing a lease, you are entitled by law to know the charges that will be assessed “up front” at the initiation of the lease agreement. These usually include the following:

Security Deposit

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First Payment & Deposit in Advance

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Capitalized Cost Reduction

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Security Deposit

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Not unlike the kind required when renting an apartment, this is to make money available to the lessor should you owe money at the end of the lease or fail to make payments as agreed during its term. It can also be used to cover past-due charges or payments, excess wear and tear or damage to the vehicle, excess mileage charges, or an end-of-lease payment. If you fulfill all the terms of your lease, the lessor must return it in its entirety. A no-deposit lease is available through The Lease Store (TLS).
Your Obligations & Responsibilities
Auto leasing provides great flexibility; however, like a loan or a cash purchase, there are costs and expenses associated with operating, maintaining and repairing vehicles.

Periodic Payments

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Repairs & Maintenance

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Vehicle Registration & Use

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Periodic Payments

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The lessor is obligated by law to provide you the following information in the lease agreement, about your periodic payments: the total number of payments, the total amount of the monthly payments, the amount of each payment, the due dates of each payment, any late-payment charge and how it is calculated.
Lease Termination Considerations
Aside from initial and continuing monthly lease costs, there may be final costs associated with leasing you should be aware of. These include charges for excessive mileage, excessive wear and tear, and an end-of-lease payment. Let’s look at them one at a time.

Charges for Additional Mileage

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Default Penalties

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Excessive Wear & Tear

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Charges for Additional Mileage

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Most closed-end leases stipulate a set number of annual miles you may drive the vehicle. If you exceed this allocation, you may be charged for every mile over the predetermined annual limit. It is important to allow mileage that fits your driving habits before signing a lease. You may be permitted to “purchase” additional miles up front at a lower rate.

With Autoflex you can specify any amount of miles you need and the lease may be adjusted to allow for those miles and the end value of the vehicle reduced accordingly.

Your Options
You have several options at the end of your lease. What you decide to do largely depends on your particular circumstance.

Purchase Option

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Walk Away Option

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Reassignments

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Right to Early Termination

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Purchase Option

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Your lease agreement may include the option to purchase your vehicle at the end of the lease. If you want this option, be sure to negotiate it before signing. Without it the lessor has no obligation to make the vehicle available to you for purchase at the end of the lease. They must also disclose the purchase price or the formula for determining the price before the lease is signed if they are offering you a purchase option lease.

Have a Question?

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