Leasing a car allows you to drive a brand-new four-wheeler without paying huge cash upfront or making efforts to find an appropriate lender. For leasing a car, you will need a small amount for a down payment i.e. 20% of the purchase price you would pay to own a new car.
Besides, the down payment you will need to make monthly premiums until the lease term ends. When the lease expires, the car gets returned or you can trade-in for another model or buy it outright.
How the process of car leasing works?
Leasing a car needs you to follow the following steps, so you can lock the best deal.
- Choose car type – Determine the type of car you want. Do you want a sedan, SUV, or convertible?
- Pick a model – You can prepare a car type list within your budget. Non-lease costs get reduced by including models offering top safety features, high dependability, favorable gas mileage, and lower insurance rates.
- Go for a test drive – After the list gets narrowed to 2/4 models, you can take a test drive on every car. Be cautious about the braking, steering, visibility, shock absorption, internal noise, and comfort level. Never mention your intention of leasing a car.
- Talk about safety – When you go for a test drive, discuss the safety features like an anti-lock brake system, head-protecting airbags, and electronic stability control with the sales rep. These are valued safety features that need to get seriously considered.
- Compare lease deals – After you return home, calculate lease deals on the purchase price to find out the amount you can afford to pay each month.
- Talk about the price first – After you have compared and know your monthly affordability, it is time to return to the dealer and strike the deal. Never tell the dealer about your leasing plan until the purchase price gets completely negotiated. Many people are not familiar with the fact that monthly payments on the lease will get finalized based on the ultimately approved purchase price.
- Negotiate – Start the final price negotiation from rock bottom. At Consumers Report, you get information about new car transport costs for a dealer. The monthly payment gets paid on the price agreed on by the sales rep and buyer. This price will be around dealerships’ wholesale price and manufacturers’ recommended retail price.
- Be careful about the gap – The sales rep will force you towards deal closure saying that you will have to pay a relatively low amount every month. However, this will add to the total amount you will need to pay. Therefore, beware of the gap before giving in.
- Paying the lease – If the initial down payment is large, then the monthly premium will be low. However, like any other contractual terms, there will be some penalties if you default on the premium payment. If you turn the leased car before expiry, you will need to pay a fine – unless you want to trade-in for another lease or buy the car.
Interested drivers in Florida can visit the Lease A Car Direct website to buy or lease a car from the comfort of their office or home. The professionals do all the leg work and save you time and money. You get a dream car on your terms, so call them now!