Types of Leasing
Among the many leasing1 alternatives Popular Auto offers you will find:


Other leasing options are:

  • "Open end" - A leasing contract with residual value and a term of between 12 and 60 months and up to 72 months2 without residual. The customer is responsible for the value of the contract during the term and for the residual value at the end of the term.
  • "Closed end" - A vehicle lease contract with a term of between 12 and 36 months. The customer is responsible for the total of the monthly payments established in the terms of the contract, but not for the residual value. Charges apply for excess mileage, wear and tear, and excessive use.
  • "Step up" - A scaled vehicle lease contract with a term of up to 60 months. This allows you to make a lower payment during the first year in exchange for a higher payment for the remainder of the term.
  • "Step down" - A scaled vehicle lease contract with a term of up to 60 months. During the first year, you pay a higher payment, which decreases every 12 months.
  • "Buy back" - Popular Auto acquires a new or used vehicle, free of liens, from the owner, at market value, and leases it to a third party. An appraisal is required.
  • “Sale & lease back" - A transaction through which Popular Auto acquires a vehicle or a fleet of vehicles and leases it to the seller. An appraisal is required.
  • Starting Connection - Directed to young adults who are just beginning their banking relationships and do not posses the credit history or minimum salary requirements for the financing of a vehicle or equipment. The program requires the applicant have a co-debtor.

 

Sales and Service Center (Sales Executive)
Tel: (787) 751-4848 ext. 2053
1-866-335-4848 – Free of Charge

 

 

 

 

 

1 Subject to credit approval. Certain restrictions apply.
2 Example: Price of $40,500; Down payment $0.00; Residual Value $13,450; 60 payments of $595 at a 6.20% interest rate. The shown interest rate may not reflect the total cost of your lease. Regular leasing rate is 9.95%. It does not require down payment or security deposit. At the end of your leasing contract an additional fee based on the value of the leased property and the residual value may be charged. Certain restrictions apply. It does not include origination fees, register, license, maintenance or any type of insurance.