Leasing a car is just like renting an apartment. You can use the car and do not own it because at the end of the contract you return it. Car leasing gives the liberty of choosing the best one and your favorite one in the market. But it’s not as easy as buying a vegetable from the market. As it involves legalities, one must know the do’s and don’ts of car lease deals. So before entering into these deals it is highly recommended to do a proper study. Leases use a different system to determine the finance percentage that you need to pay each month unlike buying a new car where the better your credit rating, the better your finance percentage. The lease deals are done on “money factor” which is specific to the Car Company and not the dealer. Let’s discuss some tips to make it a win-win situation for the lessee.
Pre Study of the car leasing deals:
Being prepared before walking into any car dealer showroom is the key to getting a great deal. First of all check online the lease prices of the multiple dealers of the car you want to lease. Get familiar with the options and the model of the car lease deals. Here you go: http://www.aspire-leasemercedes.co.uk. While comparing car lease deals, pay attention to monthly payment, lease length, down payment, mileage limit and cost per mile after the mileage limit.
Also enquire that what is included in down payment that is the first month payment, capitalized cost reduction, acquisition fee and security deposit. Get quotes from the insurance company in order to check that how much you will be paying for your future leased car. be very attentive in knowing your insurance cover package. Without the proper insurance a car is not leased out. Mileage restrictions in car leasing deals are based on the regulations of the manufacturers. Every dealer has a specific criteria as well as stipulated guidelines for particular mileage package which he makes the drivers to stick to. All in all check your credit score to desire for the beauty you want to lease.
On the spot tips:
The homework is done well and now you are all set to lease that vehicle. Don’t forget to ask over the counter questions! Ask about warranty of the car as to how long it lasts and how much it covers. Another smart move would be to lease the vehicle within the warranty period because that would save you from the hassle of post warranty maintenance. Sometimes the dealers offer many interesting plans or programs such as paint protection, body damages, security system etc. But it’s totally up to the lessee to decide whether it appeals to him. If you are planning to buy additional plans, it is advisable that you pay them off by including them in the down payment. In either case the dealer would add them to the total lease amount and that would mean an increase in the monthly payment.