Frequently Asked Questions

Ultimate Auto sales Inc.

(818) 762-2252

12440 Oxnard St North Hollywood CA 91606 us

Below are some of the most frequently asked questions regarding auto leasing and our auto broker service. They may help familiarize you with a process that can be somewhat confusing. Feel free to consult this page before contacting us, as the answers to your questions may appear here. For all other inquiries please contact us at sales@ultimateautoleasing.com

 

What is the difference between a closed-end lease and an open-end lease?

In a closed-end lease you are responsible for making a specified number of lease payments over a period of time based on a fixed end of lease value (residual value) regardless of market conditions at the time of lease termination. If there is a loss of value from depreciation, other then from excess wear and tear or mileage, it is absorbed by the leasing company. In an open-end lease, you take the risk and are responsible for any difference from the estimated residual value once the vehicle is returned and resold. Ultimate Auto Sales Inc. only provides closed-end leases to it's customers.

 

What are the advantages and disadvantages of leasing?

The advantages of leasing are lower monthly payments, more vehicle for less money, little or no cash outlay, preservation of capital, less sales tax based on the monthly payment not the purchase price, and possible tax benefits. The disadvantages are no equity or ownership in the vehicle, potential expense from early termination, and the possibility of lease end charges such as excess wear and tear or mileage.

 

Does Ultimate Auto Sales Inc. only lease high-end luxury cars?

We can assist you with a lease on virtually any type of vehicle. Since there are exceptions, we encourage all who visit our site to request a complimentary lease quote showing the most competitive lease programs for their desired vehicle.

 

How long does the Ultimate Auto Sales Inc. process usually take?

We can usually have you in your new car in as little as 24 hours from lease approval, providing your desired vehicle is readily available at a dealer in your area. If the car that you specify is located out of town or it must be ordered and delivery time will vary. Consult an Ultimate Auto Sales Inc. advisor for availability of your specific vehicle at sales@ultimateautoleasing.com

 

Why wouldn't I choose the lease plan with the lowest monthly payment from your lease comparison?

Typically, the lease plan with the lowest monthly payment is the logical choice. However, if you plan to purchase your vehicle at lease end, a program with a lower residual value or buyout and a payment that is palatable could be the right choice for you. This might be a program that is ranked near the top of the list. An Ultimate Auto Sales Inc. advisor will be happy to assist you in choosing a lease plan that meets your specific needs. Contact us at sales@ultimateautoleasing.com or call 818-762-2252 Monday through Saturday, 9AM to 7PM PST.

 

How does Ultimate Auto Sales Inc. arrange for delivery of my new car?

Generally, delivery of your new car is arranged through a dealership in your area. We provide you with all the pertinent documentation prior to delivery to confirm your lease transaction and eliminate stress and surprises. If in order to fill your request we must obtain your desired vehicle from a dealer out of your area, your car may be delivered directly to your door. The cost for transportation will vary by geographic location and will be included in your lease.

 

What happens if I decide to terminate my lease early?

Terminating your lease before its expiration can be a costly proposition. Technically you are responsible for all remaining lease payments. In order for you to get out of your lease cleanly, you would need to find either a dealer or an individual willing to buy your vehicle for the payoff amount at your intended time of termination. In most cases, the residual value in your lease will produce a close out amount that is higher than market value and any negative equity would have to be absorbed by you. It is recommended that before you decide to enter into a vehicle lease, you make certain that you are comfortable with the lease term. You should pursue the shortest term within your budget.

 

What is the disposition fee and when is it collected?

Some leases contain a disposition fee charged by the financial institution to cover their cost of retrieving your vehicle at lease end. The amount, which varies by leasing institution, is fully disclosed in the lease contract. You will be billed for this charge after you turn in your vehicle.

 

What is considered excessive wear and tear?

Most leasing companies will allow for a few small door dings, scratches, stone chips, and interior wear that typically occurs over a three year period. However, a cracked windshield, bald tires, dents, and body damaged that is not professionally repaired will be charged back to you after you turn in your vehicle. It is recommended that you take care of such damage before turning in your vehicle. The cost of such repairs will most likely be less than what you will be charged by the leasing company.

 

Why Ultimate Auto Sales Inc.?

Ultimate Auto Sales Inc. has established itself as an industry leader in the leasing business. We help thousands of consumers with quick and easy low prices and quotes on the exact new vehicle they are looking to buy or. We have Ultimate Auto Sales Inc. networked Fleet Managers at the highest volume dealerships nationwide, allowing us to save our customers thousands of dollars on the worlds best Cars. Our staff constantly researches the market place for the most up-to-date and competitive pricing available and passes on the savings to our clients. We offer lease for Acura, Audi, Bentley, BMW, Cadillac, Chevrolet, Chrysler, Dodge, GMC, Honda, Hummer, Hyundai, Infiniti, Jaguar, Jeep, Kia, Land Rover, Lexus, Lincoln, Mazda, Maserati, Mercedes Benz, Mini, Nissan, Porsche, Scion, Subaru, Toyota, Volkswagen, Volvo, Rolls Royce, Exotics, SUV's.

 

Is there any fee to apply for a lease and submit a new car request?

There is no charge or obligation to apply for a new vehicle with Ultimate Auto Sales Inc.

 

How can Ultimate Auto Sales Inc. offer vehicles with such a low monthly payment?

Since Ultimate Auto Sales Inc. works with consumers who are ready to lease, we are not subject to the allocations of any one dealer nor do we have an extensive advertising budget or flooring charges to inventory new cars. A majority of our business stems from the referrals of our satisfied customers.

 

I have had some problems with my credit in the past, will this prevent me from leasing a new car?

We are here to help. Ultimate Auto Sales Inc. takes your whole financial picture into account. Ultimate Auto Sales Inc. has established many banking relationships and will help obtain a lease to suit your needs.

 

If my car needs service, where do I take it?

Your new car warranty is included just as if you bought it from a new car dealer. Take your vehicle to the dealer nearest you

 

Why don’t you charge a fee like other lease companies?

Other companies charge a fee or collect a deposit from you early in the process because their customer retention rate is low and they want to be paid whether they find you a car or not, or use your deposit for operating capital. Our experience is that when customers are treated professionally they are more likely to purchase a car from you and return to us for their next vehicle. Collecting unnecessary fees shows a lack of trust and does not build good relationships.

 

How can Ultimate Auto Sales Inc. offer vehicles with such a low monthly payment?

We use our leverage with Fleet centers around the country to obtain vehicles at prices often below wholesale. We also have access to rebates and incentives not available directly to the public.

 

Does the dealer warranty still apply if I get the car from you?

All car warranties are issued and honored by the factory not the dealer. Any vehicle acquired through us still has the full factory warranty and service just as if you had walked into the dealer and purchased it there.

 

What are my options if I want to end my lease?

1. Purchase the vehicle
2. Sell the vehicle
3. Trade the vehicle
4. Arrange for an assumption (with bank approval)


All of these options are available to you by satisfying the payoff balance at that time, which may be more than the value of the vehicle.

 

What are my options when my lease matures?

1. Purchase the vehicle
2. Sell the vehicle
3. Trade the vehicle
4. Extend the lease
5. Turn your vehicle in to us


For complete details on these choices call us at 818-762-2252

 

What are my responsibilities for vehicle maintenance?

You are responsible for all maintenance and you should follow the recommended maintenance schedule as outlined by the manufacturer.

 

What are my responsibilities for vehicle insurance?

You are required to have insurance on your leased vehicle throughout the lease term. Refer to your contract for exact coverage.

 

Am I responsible for personal property tax on my leased vehicle?

Only in those states that assess personal property tax on leased vehicles, such as Texas, Missouri, North Carolina, Virginia, West Virginia, etc.

 

What happens when I drive more miles than is stated in my lease Agreement?

If you purchase, sell, or trade your vehicle no mileage charge will be assessed. If , however, you elect to turn your vehicle in at lease end, and you have exceeded the allowable mileage stated in your contract, you may incur excess mileage charges. Refer to the section of your contract titled "Standards for Wear and Tear". This section will help you calculate excess mileage charges.

 

How do I get license plates?

In most cases, when you take delivery of your vehicle, the dealer will handle the necessary steps in supplying you with your first set of license plates. In subsequent years you will be notified by Ultimate Auto Sales Inc. or the Department of Motor Vehicles for renewal procedures.

 

Can I let someone else lease my car?

Your leased vehicle may be assumed by another individual if approved by the lending institution. There may be an assumption fee for this service.

 

Can I take my leased vehicle out of the continental United States?

No, most lenders umbrella insurance will not allow us to permit you to take your leased vehicle outside the continental U.S..

 

What happens if tax rates change?

If the tax change affects your lease, you will be notified of the new rate. Your monthly payment will then be changed to reflect any increase or decrease resulting from the tax change.

 

If I decide to return my vehicle at the end of my lease, who do I contact?

Please call Ultimate Auto Sales Inc. at 818-762-2252. We will walk you through the process.

 

How many miles can I drive per year with my vehicle lease?

Generally car leases allow between 7,500 to 10,000 to 15,000 miles per year. If you need to drive more/less miles than this, you can get more/less miles, though it may add/subtract a few dollars to your monthly payment.

 

Who will I be financing my lease with when I lease at Ultimate Auto Sales Inc. ?

We work with a number of national lenders to get you the best lease deal possible. Since we produce such a high volume of car leases each and every month, we have even better rates and residual values than most dealer/manufacture sponsored programs. In essence this helps us to beat most other auto lease programs out there, giving us an edge on the competition.

 

Can I take advantage of the cash rebates and low-interest rates being offered by the manufacturers if I buy or lease my new vehicle through Ultimate Auto Sales Inc.?

Absolutely! In fact, in addition to the "consumer" incentives, which are advertised to the public, there are often "dealer" incentives that are not advertised. As "fleet" brokers, Ultimate Auto Sales Inc. can secure these incentives for the benefit of our clients.

Our clients receive not only the incentives they know about, but often, the incentives they don't.

 

Can Ultimate Auto Sales Inc. factory-order my new vehicle?

Yes. By utilizing our extensive dealer network, we can order most vehicles directly from the factory built to your exact specifications. Quite often, factory-ordering your vehicle is the least expensive method of acquisition.