About Auto Leasing with Bob Penkhus

Benefits of Leasing Your Next Vehicle from Bob Penkhus Automotive

If you're looking for a new Mazda, Volvo, Mitsubishi or Volkswagen car or SUV in the Colorado Springs area, look no further than the leasing options we have at Bob Penkhus Automotive. We believe that every driver from Castle Rock to Pueblo CO and everywhere in between should be able to get the vehicle they deserve, without breaking the bank.

What Is Leasing, Really?

Leasing, is a way to get a new vehicle, while only having to pay a portion of the vehicles cost, as opposed to the full amount. So, you're only paying for the time you're leasing the vehicle, so you are essentially paying for the portion of the car that you use. It's not a long-term car rental, like many tend to compare, but a short-term ownership of a new vehicle.

Why Should You Lease?

There are several benefits to think about when deciding to lease a vehicle. If you love that feeling of having a new car, then leasing might be for you. With leasing, you can get a vehicle every two to three years, so having all the best new technology and features is easier than ever. You'll also love the lower monthly payments. Leasing offers an affordable way to get a new Mazda, Mitsubishi, Volvo, or Volkswagen from Bob Penkhus, without having to sacrifice your budget needs.

Common Questions About Leasing

Do I have to Pay for Maintenance and Repairs?

Typically, yes! Think of it like you're owning the car for those two or three years you lease it for, so you would treat it as you would if you owned it outright, covering routine maintenance and anything not covered by your insurance.

What Is a Mileage Cap?

When you agree to a lease, you are signing that you will not exceed a certain number of miles on the vehicle during the term. This might be something small, like 10,000-miles or something larger. If you exceed this limit, you can still continue to drive the vehicle, but just keep in mind that you'll have to pay for those additional miles.

Can I Buy it If I Fall In Love?

It depends on your lease, but if you have the right one, then yes! See below to explore two popular lease options you have.

Types of Leases

There are many different types of leases, from closed and open-ended, option-to-buy, subvented to single-payment options. We'll talk a little here today about the two most popular options, closed-end and open-end leases.

Closed-End Leases

Typically called "walk-away leases", this option lets you choose the amount of time you want to have the car, and once that time period is over, you just simply return it to the dealership. It's as easy as that! A smart option for drivers of the Air Force Academy, as you can easily end your lease or upgrade at the end of the term! Lower monthly payments are an attractive part of these leases, and they do usually have mileage restrictions, so it's important to be honest about your expected mileage amount.

Open-End Leases

Unlike closed-end leases, these typically don't have mileage restrictions, so it makes a great option for the travel lover and business owner who needs a new company car in Fort Carson. This option does sometimes require you to pay the depreciation of the vehicle at the end of the term.

Contact Us for More Information About Leasing

Our helpful and friendly team of finance and sales experts are here to make leasing your new vehicle from Bob Penkhus is easier than ever. No matter how many questions you have, we're happy to answer them! We can help you find the perfect model for your lifestyle and budget needs, today!


Bob Penkhus Automotive

Directions Colorado Springs, CO 80905

  • Sales: (719) 473-4595