Car lease allows you to drive a new car without taking out a loan or paying a large amount of money. However, car leasing only allows you to drive the vehicle for an agreed time. It’s like renting a car long term but you don’t actually get to own the car. Usually, you will have to make a down payment of less than 20% of what the car is worth, and then afterwards a monthly payment is required to keep up with your agreed contract. If you’re looking to lease a car and wants to get the best deal as possible, follow our guideline below.
Type of car – Before leasing a car, find out what kind of car you want to buy. It’s essential to be specific with what kind of car you’re after so you can narrow down your search.
Car model – The next step is to find a list of car models that suits your preference and needs. It’s also vital to pick a list of models that suits your budget. Once you have the car models in hand, you can also check and see how much the insurance will cost for each car. It will give you an idea of the cost to insure the vehicle.
Test drive – Now that you have a list of car models, it’s time to visit a car dealer and ask to test drive each vehicle. When testing the cars, it’s ideal to check the car’s usability and features such as the steering, visibility, comfort level, safeness, braking and internal noise.
Compare lease deals – After your visit to the car dealer and knowing the latest offers available, it’s time to sort out how much you will have to pay monthly from each offer. Once you have a monthly cost for each deal, you can then pick out the deals that suit your budget the most.
Negotiate – Although you’ve now had an idea of the monthly cost from each offer, it’s still possible to negotiate the final price with the dealer. It’s essential to negotiate first before accepting what’s on offer as the dealers have the power to lower the price. When negotiating it’s important to be aware of the dealers’ tactics, as they may reduce the monthly cost, however, this usually means that you have to pay a higher amount of down payment and you may get a more extended contract at the end.