Consumer FAQs

 Q. What would my new payment be?
A. We won’t know until we take all of the information and have an agreement on purchase price from the lender. However, we will make you fully aware of the new terms before you commit to anything.

Q. How much will it cost for me to get the car back at the end of the lease?
A. It depends on the value of the vehicle at the start and the term of the lease. We attempt to amortize the vehicle so that it is close to the amount of the security deposit at the end of the lease. This way, you can simply waive the security deposit at the end of the lease, pay a very small amount, and keep the car.

Q. What if I don’t want to keep the car at the end of the lease?
A. If the full terms of the lease are met, you can turn the car back to LEAP if you do not want it.

Q. What happens to my credit bureau?
A. You should discuss with your lender how they will report their transactions on the credit bureau. LEAP also reports transactions on the bureau. So if you pay LEAP on time, this will help your credit bureau record.

Q. What if I have filed for bankruptcy in the past?
A. LEAP offers financing for people who have filed for bankruptcy, if they have steady income and can demonstrate they intend to repay their bills.

Q. What is a 722 Redemption?
A.'722 Redemption' refers to the section of the Bankruptcy code that allows debtors to keep their vehicles by paying market value to the creditor.  LEAP offers financing for 722 Redemptions.