When it comes time to find a new car, your choices are to either lease, buy new, or buy used. All three options have their pros and cons, but many choose to lease. It might not make sense to those who buy a gently used car to save money and then drive it for over a decade.
However, leasing does have its advantages. The cars are always only a few years old and so not at major risk of breaking down. Drivers get to enjoy different makes and models every few years, and the maintenance of them is often included in the plan by the dealership.
If you think this might be right for you, then keep reading to learn seven car leasing tips you can use:
1) See how many miles you get: Most every lease in existence caps you at a certain number of miles per year of the lease. The more you are over when it ends, the more you have to pay, as it is typically a per-mile fee that multiplies by the amount you’re over. You either have to pay the overage or buy the vehicle, so know how many miles you drive a year.
2) Remember the taxes and fees: Even though leases are monthly payments for the time that you own the car, do remember those down payments are often needed, as are taxes, registration, and other fees, both at the date of signing the lease and for annual registration through your department of motor vehicles.
3) Know what maintenance is covered: Many leases include essential support, ranging from oil changes to fuel system cleanings. Visit WorldwideAutomobile.com to know the accurate list of service tasks that the dealership will cover for you during the lease.
4) Look at your purchase options when it is over: Even if you lease to have new wheels every few years, you might wind up falling in love with your car and want to keep it. At least know what the purchase possibilities are, so you know what your options are going to be.
5) Consider alternate transportation when you can: If you have to have a particular make or model but know the mileage cap might be an issue, consider using public busing in the city when you can, and doing out-of-town travel by bus, train, or airplane.
6) Don’t be afraid to haggle: While the leases that car dealerships offer often have a lot of fine print, the managers might have the power to alter any text that bothers you a little bit. Even if they can’t, playing a little hardball might get them to reveal what is in their power to do for you.
7) Get out of town: If you live in a major urban area, you might have looked around the car dealerships in your city and not liked the prices. Are there are any satellite cities or suburbs just up or down the freeway or highway? A cheaper land area often has a better deal. The only downside is that you might have a long drive to the dealership for the service visits.
As stated before, there are many benefits to leasing a car over buying one. If you are in the market for a new car lease, use these seven tips to find a great lease you can not only live with but enjoy.