Why Leasing a Used Car Might Be the Best Option for You

FAQs

Every driver’s financial situation is unique, especially right now. COVID-19 has been extraordinarily tough on many families. Maybe you’ve had trouble finding work, or one of the normal wage earners in your household has had to forgo regular employment to stay home with your kids during the day.

There are a nearly endless number of reasons for people to be on a tight budget, but many of those reasons won’t prevent you from qualifying for pre-owned vehicle financing.

At Easterns Automotive, helping people in the Baltimore and Washington, D.C. metro areas qualify for great financing is one of the things that sets us apart from the competition.

However, getting a loan and purchasing a used car, truck or SUV may not be your only option. Another service that sets Easterns Automotive apart is our pre-owned vehicle leasing program.

When Might Leasing Be the Right Option for You?

Leasing is often the ideal solution for a certain type of driver, but there are some important restrictions to keep in mind. Depending on your transportation needs, these restrictions may not be disadvantages. Used car leases are:

  • Recommended for drivers who just need a vehicle to commute around the Baltimore or D.C. metro areas because you’ll be limited on the number of miles you can put on the vehicle without incurring extra charges
  • Ideal if you plan on getting a different pre-owned or new vehicle within the next few years
  • Often cheaper, with monthly payments that are lower than a car loan

For people who just need a vehicle to run errands, get to school or commute to and from work, the mile restrictions generally aren’t an issue. If your job requires frequent commutes out of the metro area or out of state – or your family loves road trips – maybe leasing isn’t the best option.

The limited timespan of a lease makes it kind of like a long-term rental car. You can’t make modifications to the vehicle and there may be restrictions on how you can use your leased car or truck, but those restrictions aren’t a problem for many city commuters who are just looking for a reliable vehicle for local transportation.

You won’t be building equity in a leased vehicle the same way you would if you purchase the vehicle with financing. However, lessees do usually get a buyout offer at the end of their lease term.

If you’ve been happy with your leased pre-owned vehicle and you want to keep it at the end of your term, you can choose to purchase the vehicle for its dealership value minus the depreciation you’ve paid each month on your lease payments. The process is a little different than building equity through monthly car loan payments, but the end result is similar.

Why Leasing Could End with a Great Vehicle Purchase Opportunity

There’s a uniquely beneficial quirk when leasing a used vehicle if you do choose to take the buyout option at the end of your lease term.

Monthly lease payments, whether the car is new or used, are derived from a calculation based on the vehicle’s valuation. New car valuations are relatively static and generally dictated by the dealership and manufacturer.

Used vehicle valuations are a little different. In some cases, a lender may undervalue a reliable pre-owned vehicle. You might end up leasing a great car for a lower monthly rate than you’d pay with financing. Then, at the end of your lease, you’ll get a buyout option that may be well below the vehicle’s market value.

Can You Lease with No Credit or Bad Credit?

At Easterns Automotive we work with more than 30 car loan lenders to find workable financing options for drivers with all types of credit situations. We take pride in our flexible terms and our ability to find solutions for people with poor credit or no credit history.

If you’re concerned you may not qualify for an auto loan or a pre-owned vehicle lease, call us. You might be pleasantly surprised by some of the advantageous rates and terms we can help you find.    

Find Out if Leasing a Used Vehicle in Maryland or Virginia Is the Best Option for You

If you need a replacement vehicle to commute around the city but aren’t sure you want or would qualify for a used car loan, leasing may be a great alternative. Easterns Automotive Group works with people in all types of financial situations to get them in reliable, high-quality pre-owned vehicles.

Don’t hesitate to give us a call at (877) 867-1357 or visit one of our eight Virginia and Maryland locations in Washington DC, Baltimore or Frederick.

Road To A Better Community – Just 1 Inc

Community,

Covid has completely turned all of our lives upside down, and as we all continue to adjust, some of us are finding ways new ways to help others in need.

Connie Denton commits a big part of her life to help children in developing countries. Children who can’t afford things we take for granted, like being able to go to school. She founded the non-profit Just 1 Inc and set out to help just one child at a time by educating and empowering them, and she has now helped about 1000 children.

Once the pandemic started, Connie witnessed a need in her very own community, causing her to shift her focus. She changed her non-profit’s direction from “just one child” to “just one senior or homeless individual.” Connie organized a team to deliver groceries to senior citizens who can’t leave their homes. She also spends her weekends dropping off clothes and food to those without shelter.

Touched by all of her efforts to support so many individuals in the community, Joel Bassam joined to share a special message and surprise Connie with $2,000, so she can continue to do fantastic work helping and feeding others.

To learn more about Easterns Automotive Group’s partnership with WUSA 9 and how they come together to empower the DMV community, please visit www.wusa9.com/BetterCommunity

The Give: Make-A-Wish

Community,

 

Make-A-Wish is a local organization dedicated to granting wishes to children right here in our backyard. Their mission is to create life-changing wishes for children with critical illnesses. For them, granting wishes goes beyond nice things or gifts. They are impactful for everyone involved, including families, sponsors, donors, medical professionals, and the communities, giving them courage and optimism.

Covid-19 has created new challenges for us all and has even forced Make-A-Wish to put a few wishes on hold. Lesli Creedon, the President and CEO of the Make-A-Wish Mid-Atlantic chapter, also explains that isolated children, due to the nature of their illnesses, find their support circles are growing smaller because their families are at risk. In April 2019, about 90% of their wishes – meeting a celebrity or going to Disney World – were put on hold until it is safer. Almost a year later and their wishes remain on pause.

As a part of “The Give” campaign with Easterns Automotive Group, they are currently working to send more of what they call “wish enhancements,” including goodie bags and care packages, to let the children know they are not alone.

They have also partnered with athletes like Tom Wilson from the Washington Capitals, who recently purchased a ton of wish enhancements and surprised them with a message to let them know that he is thinking of them.

It is a pleasure to be apart of “The Give” campaign to help make sure the Mid-Atlantic chapter of Make-A-Wish can continue to make dreams a reality for these children.

Helping Hands – Frontline Healthcare Workers at Inova Fairfax

Community,

Hospitals are still working diligently to care for COVID-19 patients. Even though it may seem as if the world is returning to some form of normalcy, hospital workers are the true heroes that face the real effects of COVID-19 every day. We wanted to step up and show our frontline healthcare workers that we appreciate them.

We surprised 150 healthcare workers at Inova Fairfax with lunch from Ciao Osteria in Centreville! Joel Bassam joined virtually to share how Easterns Automotive Group wanted to highlight the true heroes who keep everyone safe during this crisis. It is necessary to show them that we cherish their endless hard work and care for our loved ones during this trying time.

The Inova Fairfax Covid response team appreciated the community working together to thank them for their commitment. Ciao Osteria’s owner expressed how important it is that we take care of each other, and we couldn’t agree more!

Helping Hands, powered by ABC 7, is always looking to help out people or organizations in need worthy of assistance. If you know someone that fits this description, please?click here?to nominate them

Road to A Better Community – Cool and Dope

Community,

Cavanaugh Bell is an eight-year-old boy from Gaithersburg, MD, who decided to turn his pain from being bullied into a mission to help others.?

After being bullied brought him to a dark place, he was determined to help others never feel the way he did. In response, Cavanaugh and his mother, Lacey, created the non-profit Cool and Dope. It is a tribe of positive creators that has a mission to stop bullying worldwide by 2030.

Even though it started as an anti-bullying campaign during the pandemic, Cavanaugh saw another way to help his community. They created a food pantry, which developed into care packages for families directly impacted by the Coronavirus, and now into mobile pantries. Cavanaugh and his mother drive around to keep the pantries stocked full of free necessities for others whenever they need them. They currently have 8, but their goal is to have ten pantries by the summer.

Cavanaugh’s kindness inspired us at Easterns Automotive Group, so we wanted to help him reach his goal! We were able to surprise him with $1,500! Enough to complete three mobile pantries! Cavanaugh was completely speechless and later expressed how he felt beautiful inside.?

To learn more about Easterns Automotive Group’s partnership with WUSA 9 and how they come together to empower the DMV community, please visit?www.wusa9.com/BetterCommunity

Pay It Forward – Frontline Workers at White Oak Medical Center

Community, Uncategorized,

So many men and women have put themselves in harm’s way to work the frontline. They have spent the past year dedicated to helping those who have contracted COVID-19 while trying to remain safe themselves.?

From the Fox 5 team, Erin Como visited the White Oak Medical Center in Silver Spring, Maryland, to speak with those saving lives on the frontline. Continue reading Pay It Forward – Frontline Workers at White Oak Medical Center →

Helping Hands – Tawana Baylor

Community,

Southwest DC is an area that has been hit hard by the pandemic. In a ward full of residents facing food insecurity, people in the community have stepped up to make sure their neighbors do not go without, like Tawana Baylor. Ms. Tawana works as a violence interrupter in her neighborhood, but she is so much more to the children in her community. Many even said they see her as a second mother.

Tawana feeds the children in her southwest DC neighborhood and has done so for years. She manages a makeshift toy outlet, library, and grocery store all out of her small apartment while creating a safe space for families and children whenever they may need help. She funds her operation by pinching pennies and support from various family, friends, and non-profit agencies.

In this episode of Helping Hands, Ms. Tawana, as everyone calls her, brought balloons to one of her volunteers, Ben, in the community for his birthday, not knowing she was the one actually in for a surprise.

After Ben blew out his candles, Ms. Tawana was surprised with a check for $1,500 from Easterns Automotive Group to help her continue to feed the children in her community. Blown away by her selfless actions, Joel Bassam shared how amazed we are by her work in her community. She was initially in shock and brought to tears. She did not have the words to express her gratitude.

When Ms. Tawana finally found the words to say, she shared how happy she was that she no longer has to pinch pennies to make sure everyone in her community is cared for.

Helping Hands, powered by ABC 7, is always looking to help out people or organizations in need worthy of assistance. If you know someone that fits this description, please?click here?to nominate them.

Pay It Forward – Helping Neighbors in Need

Community, Uncategorized,

 

COVID-19 has turned everyone’s lives upside down, and, amazingly, there are so many people doing extraordinary things to help others during these trying times. A new mom in Maryland named Caroline Dennin wanted to find a way to impact those less fortunate and thought an app connecting neighbors was the perfect way to reach out.?

Caroline decided the Next Door app was the best platform to let others in the community know that she was there to help if needed. It was never her intention to receive so much support. However, by creating so many connections through the app, twenty-five people made donations. With help from others in the community, she provided families with things like groceries and toiletries. Receiving so many contributions, she was able to deliver to 12 local families.?

Inspired by Caroline’s effort to help her neighbors in need, Joel Bassam joined virtually to share some good news! Easterns Automotive wanted help by donating twenty-one $100 gift cards.

The holiday giving didn’t stop there as Mike Thomas from the Fox 5 team continued to give back! As people passed by, Mike asked, “What are you thankful for?” With the past year we have had, it is no surprise that most replied that they are grateful for life and health. He next surprised them with a $100 gift card from Easterns Automotive.?

If you know someone in the DC, Maryland, and Virginia area that goes above and beyond the call and is worthy of being recognized,?Click here?to nominate them.

Helping Hands – “Feast of Sharing: Reimagined”

Community, Uncategorized,

During the pandemic, the holiday season was unbearable for some. Individuals were separated from their families, and others still without employment. Helping Hands, partnering Easterns Automotive Group with ABC 7, worked tirelessly during the holiday season to support those making tremendous efforts in the community.

Right before Thanksgiving at the Walter E Washington Convention Center, the annual “Feast of Sharing” feeds almost 5,000 people. Unfortunately, due to the pandemic, the organizers had to rethink how they would continue this holiday tradition of 20 years.?

Kidd O’Shea from the ABC 7 team met with the organizers to hear how they planned to continue to provide for the community despite having to cancel this annual event. Beth Goldburg, Senior Manager of Community & Public Affairs at Safeway, shared that with the new name “Feast of Sharing: Reimagined,” they decided to assemble 5,000 meal boxes and gift bags to be delivered throughout the community. The gift bags were created to help keep people warm during the winter and included hats, scarves, gloves, face masks, and hand sanitizer.

Kidd O’Shea surprised organizer Lara Akinsanya with 600 scarves from Easterns Automotive Group. Lara expressed her excitement and how they were struggling to receive scarves. Inspired by their ability to pivot to continue to help people in need, Joel Bassam, director of marketing for Easterns Automotive Group, shared a special message with their team.?

Helping Hands, powered by ABC 7, is always looking to help out people or organizations in need worthy of assistance. If you know someone that fits this description, please?click here?to nominate them.

Helping Hands – Tummy Yumyum

Community,

COVID-19 has left some individuals in unfortunate circumstances. Some are still without jobs and the support they had before. However, it is incredible to see people in our community pull together to help one another during this time, like Sharita Rouse, the owner of gourmet candy apple store Tummy Yumyum in Manassas, VA.?

Sharita says, in 2008, God directed her to open a candy apple store, even though she had never made candy apples before. One day, someone stopped by her store looking for food, and again she says God directed her to start feeding anyone in need without asking, and since then, she has been feeding individuals for over ten years through her business. Due to the influx of people in need during the pandemic, Sharita began to provide hot meals for about 500-600 people a week from her candy apple storefront.?

It is always a pleasure to partner with ABC 7’s Helping Hands initiative and give back to those doing incredible work in the community. Presented by Kidd Oshea, we were excited to surprise Tummy YumYum with $1500 to go towards her actions in the Manassas community.?

Helping Hands, powered by ABC 7, is always looking to help out people or organizations in need worthy of assistance. If you know someone that fits this description, please?click here?to nominate them.