How to lease a car-the right way

People lease vehicles for several reasons including: the price is lower than when purchasing, they can change the model after the lease term ends and they do not have to deal with maintenance in most cases.  If you lease now, it does not mean that you will not decide to purchase at some point in the future. When that moment comes, do not forget to check out used vehicles on sales because, despite popular belief, sometimes it represents a better alternative than buying brand new. For instance, Toyota Prius options for sale really make you think twice before walking away from the deal.  That being said, keep reading to find out important steps you should follow when leasing a car.

Information

Learn the language of leasing. It might seem a quite strange advice, but if you are leasing for the first time, you might find yourself overwhelmed by the terminology and of course, you will have many uncertainties and questions. Becoming familiar with concepts like mileage distribution and residual value will help you be more knowledgeable and confident. Moreover, you could even get a good deal, but we will talk about this later because the first step is to do a thorough research concerning the whole process of leasing and the key numbers you should know, such as money factor, residual percentage and amount, disposition fee.

Test drive

When you arrive at the dealership, you are not obliged to express your intentions from the very beginning, namely if you are buying or leasing. If a vehicle captivates your attention, take it for a test drive in order to determine if it represents a suitable model for you. This will also allow you to observe certain aspects like engine power, controls, seating and handling, visibility and more. Even though it is not a permanent commitment, you still have to take into account these factors when leasing a car.

Negotiate

After you get to know the dealership better, you will be able to decide if you can improve your deal. As a tip, you can ask about the lowest offer, contact other dealers and see if they are willing to beat the price. Moreover, you can check out dealerships websites in order to discover lease specials. When you compare deals, do not consider just the lowest selling prices, but also the money factor and the residual value. At the end, do not forget to review the paperwork.

 

menu
menu