Being smart when it comes to purchases is very important. Year after year, the price of commodities go up due to inflation. Same goes with rent and mortgages. And then there's the importance of having transportation as you go from work or school, and home. If you'd like another option to save on money, then here's a helpful guide to leasing a car.
A leased car is generally less expensive than buying a new one. Of course, the term lease means that you'll eventually return it to the bank or wherever it was leased. Still, most lease contracts last two or three years, giving you enough time to save up in case you decide to buy a new car afterwards.
Companies and banks that offer leases usually need lower down payment and has lower monthly rates. In addition, you get a brand-new car for less than what it should have been paid for. Also, since you only have the vehicle for a short time, expenses for maintenance are lower, since you should have already returned it prior to major maintenance or tune-up requirements.
If you want to keep with the trend when it comes to having a car, a leased car may be a good option for you. Once the lease is up, and given the assumption that there are no excess mileages used or damages to it, you can simply drop it off and grab the next car on lease. It is relatively cheaper than maintaining a couple of cars in the long-term.
As previously mentioned, over-mileage costs and allotted miles should be reviewed before you sign a lease contract. The annual limit of most lessors when it comes to mileage is somewhere between 12,000 and 15,000 miles. Over-mileage costs may end up costing you, since these are charged per mile. However, if you know that you will exceed their limit, opt to get extra miles at the start. The amount you pay will still be lower than any over-mileage cost. One thing to remember, is that you won't be charged over-mileage charges if you decide to buy the leased car once your contract ends.
Also take a look at the price of the residual percentage, which is what the car is worth once your lease term ends. A higher value in percentage means that the depreciation value you must pay for the car is lower, translating to a lower monthly payment. In relation, take a look at the residual amount, because this is what you need to pay the lessor should you decide to buy the car eventually.
Once you feel confident that you want a leased car, the next step is to shop for one. Online research is the quickest way to find the best lease deals. There are websites that collate and compare different offerings, or you can visit the website of your car maker of choice. Leased deals from car makers and usually less expensive than dealerships.
When looking for the best deal, don't just focus on the least expensive car. You need to look at two factors - which requires the lowest out-of-pocket amount and the lowest monthly payment. When requesting for a quote, don't just settle for one. Ask for quotes from different locations, and request that the quote include taxes, registration, and other fees.
A leased car is generally less expensive than buying a new one. Of course, the term lease means that you'll eventually return it to the bank or wherever it was leased. Still, most lease contracts last two or three years, giving you enough time to save up in case you decide to buy a new car afterwards.
Companies and banks that offer leases usually need lower down payment and has lower monthly rates. In addition, you get a brand-new car for less than what it should have been paid for. Also, since you only have the vehicle for a short time, expenses for maintenance are lower, since you should have already returned it prior to major maintenance or tune-up requirements.
If you want to keep with the trend when it comes to having a car, a leased car may be a good option for you. Once the lease is up, and given the assumption that there are no excess mileages used or damages to it, you can simply drop it off and grab the next car on lease. It is relatively cheaper than maintaining a couple of cars in the long-term.
As previously mentioned, over-mileage costs and allotted miles should be reviewed before you sign a lease contract. The annual limit of most lessors when it comes to mileage is somewhere between 12,000 and 15,000 miles. Over-mileage costs may end up costing you, since these are charged per mile. However, if you know that you will exceed their limit, opt to get extra miles at the start. The amount you pay will still be lower than any over-mileage cost. One thing to remember, is that you won't be charged over-mileage charges if you decide to buy the leased car once your contract ends.
Also take a look at the price of the residual percentage, which is what the car is worth once your lease term ends. A higher value in percentage means that the depreciation value you must pay for the car is lower, translating to a lower monthly payment. In relation, take a look at the residual amount, because this is what you need to pay the lessor should you decide to buy the car eventually.
Once you feel confident that you want a leased car, the next step is to shop for one. Online research is the quickest way to find the best lease deals. There are websites that collate and compare different offerings, or you can visit the website of your car maker of choice. Leased deals from car makers and usually less expensive than dealerships.
When looking for the best deal, don't just focus on the least expensive car. You need to look at two factors - which requires the lowest out-of-pocket amount and the lowest monthly payment. When requesting for a quote, don't just settle for one. Ask for quotes from different locations, and request that the quote include taxes, registration, and other fees.
About the Author:
Check out our guide to leasing a car for a summary of the things to keep in mind when picking a car lease company at http://www.fightingchance.com now.
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