A car lease is a tempting deal, as you drive away with a new car while avoiding large cash payments. By making a small initial payment, less than 20% of the car’s value, followed by payments each month, you can afford a new vehicle. However, leasing a car does have some drawbacks. Here is a guide to getting the best car leasing deal available.
Is leasing right for you?
Rather than purchasing a car outright, leasing can prove beneficial. If you do not have the cash to buy the car, leasing enables you to drive away with a car, even if it’s out of your initial price range, as long as you can afford the monthly instalments and you take care of the car. There are also penalties for exceeding the mileage limits set by the dealer.
80 per cent of new cars in the UK are now sold in personal contract plans.
Getting the best deal
1. Choose a car
Choose the right car for you, whether it is an SUV, hatchback or convertible sports car. For vehicle leasing in Leicester, enquire with a company such as http://leasing.totalmotion.co.uk/.
2. Pick the model
Start making a list of the car models that fall into your price range. Reduce costs by including vehicles with low fuel mileage, low insurance premiums and top safety features.
3. Book a test drive
Once you have a shortlist, take each vehicle for a test drive. Pay close attention to the braking, visibility, comfort, shock-absorption, steering and internal noises of each car. Do not mention, at this stage, that you plan to lease the car.
4. Check safety features
Always ask about a car’s safety features, such as side airbags, electronic stability control and anti-lock brake systems.
5. Compare lease deals
Calculate all the lease deals available and decide what price you can afford each month.
6. Talk price
Once you return to the dealership to make a deal, do not tell the dealer that you plan to lease until the purchase price has been negotiated. Your monthly payments will be calculated based on the agreed purchase price.
7. Paying the lease
If you pay a larger initial down payment, your monthly instalment will be reduced. As with all bills, you will face penalties for late payment.