Ways to get the best deals on car leasing
Getting a good deal on car leasing is a matter of choosing a car that is worth the money. A good car lease deal should also take advantage of special discounts and the vehicle’s true market value. Even champion car buyers can get a little confused while choosing the best car leasing deal.
Car leasing is fast becoming popular among those who do not wish to spend huge amounts on buying a car but wish to use one. Leasing is a great alternative for some people based on their lifestyle and needs, especially for those who travel a lot, need a vehicle for a brief period only, or even those who cannot afford to buy a car of their own.
Once you have decided that leasing works best for you, here are a few pointers that can help you land the ideal car leasing deal. Those who have zeroed in on a car model, but do not plan to purchase it after the lease expires can go for a tailor-made lease plan.
- Choose cars with a low depreciation
Car leasing cost includes its depreciation, tax, interest, and other charges. So choosing a car that holds its value translates to a lower lease payment. As per lease terminology, a car with a good resale value has a strong residual value. Residual value is the amount that is left even when the lease term is complete. - Evaluate the market value of the car
Good pricing websites such as Kelly Blue Book or Edmunds.com provide details on the fair market value of the car and the invoice price. Certain models offer customer cash rebates, which allows for dealer prices lower than the invoice amount. - Look out for leasing offers
Special leasing offers are rolled out especially when the model isn’t selling at expected rates. These special deals facilitate a low monthly payment by altering the leasing formula. - Gather leasing quotes from different dealers
Once you have zeroed in on the target sales price, you can reach out to several dealers and get their leasing quotes. Rather than revealing that you plan to lease the car, ask for the best sales price to get good deal quotes. - Choose the deal that works best for you
Although it may be a bit confusing to compare various quotes received from dealers, after careful evaluation you will be able to choose the one that works best for you. The best car leasing deal can be spotted by looking at how much the dealer charges above the invoice price. - Enquire about lease payments
Once you choose the car with the best sales price and the color options get back to the salesperson and ask for lease payments at the sales price. Be very clear about the lease duration, drive-off fees, and interest rates. - Deal closure
Before you sign the lease contract, ensure that the monthly payments fit your budget and the figures are as per agreement.
Keep in mind all of the above points before clinching a car leasing deal.