Money Advice for Leasing a Car

Money Advice for Leasing a Car
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Leasing a car has a plethora of advantages. Buying a car gives you the ownership of that car but leasing a car means it is borrowed for an agreed time. It’s a known fact that leasing a car is cheaper than purchasing one out rightly. The monthly payment on a leased car is smaller compared to what will be paid monthly for a purchased car. A lot of factors need to be considered before walking into the dealership office. Getting car lease reviews is the first step to take before considering any dealership. These car lease clients’ feedback equip you with the right information you require before deciding which dealership you will lease from. When dealing with the company, you need to look at the financial aspects as saving money should be your number one goal. You can save money and still have the best car. It depends on how informed you are.

Negotiate down payment

This is an important tip. Paying a large down payment might affect your pocket. In a case where the car is stolen, you don’t get reimbursed for your down payment and the company gets paid for damages. Negotiate down payment, mileage limit and the price you will pay if you want to buy the car.

Pretend you want to buy the car at first

When you walk into a dealership, give them the impression you want to buy the car and negotiate the price. After negotiating the price, you can now suggest leasing. This will enable you to get the best price and other options for leasing a car as you already know what the car costs.

Don’t lease a car for an extended period

The warranty period for most cars is between 3 to four years. Leasing a car beyond the warranty period will cost you money. If the car is no longer under warranty, then any maintenance and repair cost will come out of your pocket.

Buy Guaranteed Auto Protection (GAP) Insurance

The only way you can be reimbursed if the car is stolen is if you buy a Guaranteed Auto Protection insurance. Failure to that will amount to the dealership not giving you the down payment while still charging you for damages, which amounts to a loss. You don’t want that to happen to you.

Purchase extra mile in advance

The implication is that if the mileage you signed for is 15,000km for a year, and you covered 20,000km for that year, you will be charged for those extra miles and this will cost you more. Buying extra miles in advance will save you a bucket load of cash. You should visit reviewsbird.co.uk to learn more on how to buy extra miles in advance.

Make sure the car is worth its purchase price

It is normally not advisable to buy a car at the end of the lease period especially if the car is no longer under warranty. What if the lessee loves the car and is willing to keep it? The only advice we can give is to ensure that the car is worth its purchase price. Dealers increase the price of items all the time and if you know that the buying price is more than the worth of the car, then you have to beat down the price. In whatever you do, make sure the car is worth its purchase price.