Twelve to sixty months.

Whew. That was easy. What?… need more detail?

Here’s what to know…

Longer terms = lower payments. But, longer terms also = higher total dollars paid, and of course a longer commitment.

Generally, most leasing companies are going to view leases shorter than 12 months as a rental rather than a lease, with different sets of rights and responsibilities.

So, what’s the difference between a rental and a lease? –

In most cases, a rental gives you the right to use a vehicle for a period of time, just like a lease. But they differ in several ways –

• A lease is for a particular vehicle, while a rental company might reserve the right to take back the vehicle you’re driving and substitute another one.
• A lease allows you to make long-term modifications to the vehicle (permanent signage, added equipment like cranes and service bodies, etc.), while a rental typically does not.
• Rentals are usually much shorter terms (so your commitment is less), but also more expensive.
• Rentals are more flexible, but you pay for the flexibility, and rentals aren’t very well suited to commercial vehicles in which specialty bodies are needed, or in cases where a technician or driver carries tools and parts more or less permanently.

So… how does a lease work?