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Short-Term Car Lease – Everything you need to know (2024 Guide)

  • Auto Refinance
  • Nova Kainen
  • 7 minutes

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A short-term car lease may be an excellent choice if you need an automobile but don’t want to commit to buying one. So, if you need access to a vehicle but don’t want to commit to a lengthy contract, a short-term car lease may be the best option. However, there are a few drawbacks to think about before opting for a short-term auto lease. Here is some information about car short-term lease. 

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What is a short-term car lease?

Short-term car leases, like traditional leases, including signing up with a dealer or leasing business to utilize a vehicle for a predetermined amount of time and mileage. At the end of your lease term, you must either return the vehicle to the dealer or buy it if the terms of your lease allow you to do so. 

There are no mandated minimum terms for leases to follow. The standard lease term offered by most dealerships is between two and four years. A short-term lease is distinguished by its duration, typically no more than two years. 

Remember, two main factors about short-term car leases. 

  • As the leasing period is shorter, the monthly payments that you have to make will be higher than that for a longer one. 
  • Usually, you will have to make a down payment for leasing a car.   

Who should consider a short-term lease?

  • If your need for a car is temporary, such as for work, school, or personal commitments, and you prefer not to commit to a long-term arrangement, a short lease is an ideal solution.
  • If you have a passion for driving new cars opting for a short-term lease could align perfectly with your preference for the latest models.
  • Opting for a short-term lease offers the flexibility to switch out your vehicle when your preferences or the particular need changes.

What are the ways to get a short-term lease?

Here are the different ways to get a short-term lease. 

Lease takeover

Putting up a car for lease takeover is one option for drivers looking to terminate their contracts early. Depending on your needs, you can narrow your search by site, car make, and lease term. Drivers who need a vehicle for a few months but don’t want to make a long-term commitment may benefit from this choice.  

Various lease takeover sites are Swap-a-Lease, Quitalease , and Lease Trader. 

Choose a long-term car rental

If you need transportation for a period of three months, long-term car rentals are the finest choice. No down payment, no monthly payments, and no mileage restrictions are just a few of the benefits of monthly car rentals.  

Various national car rental companies are Hertz, Enterprise Rent-A-Car, Budget, and Avis Flex. 

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Sign for a short-term lease

A dealership short-term lease could be the best option if you need vehicle for a year or more. An automobile lease procedure is outlined below. Almost all automakers provide lease options for new vehicles, while the minimum lease length varies by make and model. For a complete list of options, visit the dealership or manufacturer’s website of the car you’re considering. 

How to get a short-term car lease

Here’s how to grab a short-term lease:

  1. Shop Around: Visit dealerships and compare their short-term lease deals. Find the car and terms that suit you.

  2. Check Your Credit: Make sure your credit score is good as most leases need good credit for approval.

  3. Fill Out the Forms: Fill the details and apply.

  4. Deposit Down: Pay a security deposit to secure your lease, with your money safely returned if the car is well-maintained.

  5. Fee Payment: Expect some upfront fees like registration and acquisition costs.

Pros and Cons of Short-term Car Lease

While short-term auto leases may be the best option for some, they aren’t always the best choice for all. When deciding whether or not this type of lease is right for you, it’s important to weigh the following benefits and drawbacks. 

Pros

1. Short-term commitment

Traditional choices can run as long as five years, while a short-term lease lasts for two years at the most. If you frequently move or are in the military and just require the car for a short time, this may be an option worth considering. 

2. Greater flexibility

When you sign a short-term lease, you have greater flexibility to upgrade to a newer vehicle, and you can switch quickly.  

3. Cost-effective

Taking over an existing lease is usually more cost-effective than signing a new, shorter lease. There is no need for a down payment either. 

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4. Drive latest models

If you are passionate about new cars, then a short-term car lease is an option.

5. You need a temporary car

If you need a vehicle for a few months due to relocation or a new car purchase, then a short-term car lease is an option.

Cons

1. Higher monthly payments than a traditional car lease

As the leasing period is shorter, monthly payments will be higher than that for a longer one.  

2. Mileage limits

Instead of setting your own mileage limit when you buy a car, you’ll have to commit to a set amount when you lease a vehicle, usually between 12,000 and 15,000. Taking up a lease can leave you with even stricter limitations. 

Also Read: Best Car Lease Deals

3. Less popular than a traditional lease

Short-term car leases are not as common as longer-term ones. You may find that the type of leasing deal you’re seeking is only offered by select dealerships or automobile rental agencies. 

4. Rare to find

These are less popular than the usual leases and may be available with only with few dealerships and companies.

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Bottomline

If you’re seeking options and don’t want to be tied down to one vehicle for an extended period of time, a short-term lease may be the way to go. Due to depreciation expenses, car leases like these typically have higher monthly payments.  

However, keep in mind that prices tend to increase for shorter terms. Before committing to a short-term auto lease, it’s a good idea to shop around at several dealerships to discover the most affordable contract and to compare those monthly payments to the monthly rates of longer-term rentals. 

More First-Time Car Buyer: How Much Should You Spend?

FAQs 

Can I lease a car for 3 months? 

You can rent a car for three months without any problem at all. Renters who stay for an extended period of time get lower monthly rates. However, short-term leases typically range from six months to twenty-four months in length. 

What is the shortest lease term for a car?

While it depends on dealerships, most short-term car lease periods are for a year and slightly longer.

Can I rent a car for 3 months?

Yes, depending on the company and the plan you choose, you can rent your car for 3 months.

What is the difference between lease and rental cars? 

Lease and rental cars differ in based on ownership and duration. For instance, rental cars are for short-term needs, like vacations or business trips, and you don’t own the car. However, lease cars are for longer-term commitments, and you lease the car from a dealership.

 

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