Leasing a car rather than purchasing one can prove to be much more cost-effective and is an option being chosen by a growing number of people. Some people like to change their cars every so often and others use them for their business. Some chose to purchase the car at the end of the lease as an option.
However, there a few ways to make sure that you get the very best car leasing deal for you:
- Commit To The Right Lease Length, Longer Can Be Cheaper
Lease companies will offer you their lease cars for specific amounts of time. Over commit and you could be left with a car that you don’t want, under commit and you could be handing your car back before you are ready.
Car leasing tends to vary around two years to five years although different terms are available. Make sure that you commit to the amount of time best for you but do keep in mind that in general, the longer you keep the car, the more cost-effective it will be.
Because an advanced payment will be required, the longer you keep the lease car, the further that initial payment will stretch. For example, if you have to pay 6 months up front and hand the car back after two years and pay a new initial payment, then that is less cost efficient than paying 6 months up front and then keeping the car for four years. On top of this, longer commitments tend to get slightly lower monthly payments.
- Look For The Offers, You’ll Be Surprised At What You Can Get
Car manufacturers tend to use leasing as a way of getting their cars on the road and clearing stock they can’t shift quickly. They also use it as a way to hit their monthly, quarterly and annual targets and this means that special offers can always be just around the corner.
Try using this to your advantage and search or even wait for the next special offer. It is often possible to get a real bargain.
- Check The Fees, They’ll Affect Your Overall Cost
When using car leasing as a way to secure your next car, you should always check all the fees and costs involved and come up with a total figure. This total figure is the real cost of your car lease.
In other words, don’t always trust that a lower monthly payment is the best deal if it happens to require a larger initial payment or has lots of hidden charges and fees. Simply add up every single penny involved in your car lease and use this total to compare to other deals.
Guest Contribution: This was a guest contribution post.
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