What’s a One-Pay Lease?

You probably know all about leasing, but have you heard of one-pay leasing?  

A one-pay lease program is a lease in which all the monthly payments are made in one payment at lease signing. This can also be called a “single-pay lease,” which means you can pay your 24-60 month lease at once and save money. thebalance.com gave this example: “Let’s say you opt for a 36-month car lease, with payments of $300 per month. During the lease period, you’ll pay a total of $10,800.”  This helps to lower the total payment of the lease. 

 Some benefits to consider: 

• If the lease is for someone who is 19 or older, they can be added to the lease as a co-buyer, which will help to build their credit without the liability of a monthly payment.  
• One-pay lease notes can be from 24 to 60 months.   
• It’s a great way to teach the young driver the valuable lesson of responsibility. Set up a system of payments sent to a savings account to be used at the end of the lease! 
• Chances are young drivers will have some type of accident in the first few years of driving. With a lease, the buyer doesn’t suffer the loss of depreciation on the vehicle due to an accident reported on a Carfax. 
• The best benefit of leasing? Reliability and the latest safety features! 

Savanna

As an editor, copywriter, and social media manager at exploreMedia, I work to develop content that is relevant and interesting to our readers and coordinate with contributing writers.