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FAQ on Leasing ________________________________________ Q. - What costs are there at the start of the lease? A. There are a few payments to consider at the start of a lease: 1. Refundable Security Deposit: Normally refundable at the end of the lease unless it is necessary to apply for any outstanding amounts owed. 2. Leased Vehicle Capitalized Cost Reduction (also known as down payment): The lessee can lower the monthly payment by trading in a vehicle or paying an amount in cash up front. 3. Registration and other fees. ________________________________________ Q. - Can I lease a used vehicle or truck? A. Absolutely! We are one of a select number of lease companies that are capable of leasing used vehicles when this better suits your personal needs. ________________________________________ Q. - Is there a Kilometer allowance? A. The lease agreement generally provides an annual kilometer allowance. There is an additional cost you must pay for every km above the allotment at lease end. If you know up- front that you will put on more than the allotted km's, you may choose to pay for the projected excess mileage ahead of time at a reduced rate by lowering the residual. ________________________________________ Q. - How is the residual value determined and how does the residual value affect the payment? A. The residual value or buyout is based on the historical data on the resale value of each particular vehicle and on the kilometers driven during the lease term. Residuals are based on the vehicle having normal wear and tear, regular maintenance, no body damage. If you were going to put more kilometers on, then the vehicle will be worth less at the end so the residual value would have to be decreased and the payments would go up accordingly. ________________________________________ Q. - What are my options if I want to end my lease? A. - 1. Purchase the vehicle 2. Sell the vehicle 3. Trade the vehicle towards another vehicle 4. Arrange for an assumption (with bank approval) All of these options are available to you by satisfying the outstanding lease balance at that time, which may be more than the value of the vehicle. ________________________________________ Q. - What are my options when my lease matures? A. - 1. Purchase the vehicle 2. Sell the vehicle 3. Trade the vehicle 4. Extend the lease under new terms 5. Turn your vehicle in to us For complete details on these choices call us at 647-800-5100 or 954-999-4777 ________________________________________ Q. - What are my responsibilities for vehicle maintenance? A. - You are responsible for all maintenance and you should follow the recommended maintenance schedule as outlined by the manufacturer. ________________________________________ Q. - What are my responsibilities for vehicle insurance? A. - You are required to have insurance on your leased vehicle throughout the lease term. Refer to your contract for exact coverage requirements. ________________________________________ Q. - Who is responsible for moving violations? A. - By law, you are responsible for all parking/ moving violations. ________________________________________ Q. - How do I get license plates and who pays? A. - When you take delivery of your vehicle, the we will handle the necessary steps in supplying you with your first set of license plates. In subsequent years you will be notified by your licensing authority for motor vehicles for renewal procedures. You are responsible for the cost of license and registration fees throughout the lease term. ________________________________________ Q. - Can I let someone else lease my car? A. - Your leased vehicle may be assumed by another individual if approved by our lending institution. There may be an assumption fee for this service. ________________________________________ Q. - What happens if my vehicle is wrecked but not declared a total loss? A. - You should contact your insurance company and WST Auto Group immediately. We will guide you through the steps for having your vehicle repaired. ________________________________________ Q. - Can I terminate my lease early? A. - Yes, however each leasing company has a different termination policy. You may end up paying a penalty, or a deficiency balance to terminate early, please check with us. ________________________________________ Q. - Why do the leasing prices look so good in the Saturday paper? A. - Advertised lease costs look attractive because they are usually based on higher down payments and often don't include all the relevant costs, such as freight and pre-service charges, administration fees and applicable taxes nor are as well equipped. ________________________________________ Q. - Should I consider buying out my car at the end of its lease? A. - One advantage of a lease is the option to buy your vehicle when the lease is up. The WST Auto Group has pre determined the buyout at the beginning of the lease and can guide you as to which vehicles are more beneficial to purchase. ________________________________________ Q. - What type of individual should lease a new car? A. - You are a good candidate for leasing, if you: 1) Like to drive a new car every few years. 2) You like having a warranty so you don't have to worry about costly repairs. 3) You have a good credit record. ________________________________________ Q. - Who should not lease a car? A. - Individuals with credit problems.

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