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Tips on Getting a Good Deal on a Leased Car

Leasing a car lets you drive a new or used vehicle without paying a large sum of amount. To lease a car you simply need to pay small down payment along with monthly payments till the term of the lease period is over, and after the term expires you need to return the car.

But before leasing a car you should be aware of some things, so that you will get a good deal on the car you have leased.

Model of the car – Plan in advance on the car model you want to lease. Get some information about the model on online, like whether it is a latest model or an old model. Also compare the price of the car from various lease companies and opt for the one that fulfills your requirements.

Car selection – Choose a car that gives more miles, consumes less fuel, good safety condition, low insurance premium, etc.

Miles – Check with the dealer about the number of miles included in a year. Choose the one with maximum miles. Try to include more miles in lease agreement before signing, because it avoids extra charges at the end of the lease period.

Comfort for driving – Make sure that the car is comfortable when driving. You can ask for a test drive before leasing, especially if it is a used car.

Safety of the vehicle and customer – Ask the dealer about the safety equipments that are included in the vehicle, generally it should have features like anti-lock brake systems, electronic stability control, etc.

Analyze your budget – Before leasing the car you should be confident enough about paying the monthly payment on time. The car leased should not exceed your budget, it is better to ask the dealer to give a list of cars that come in your budget and then make the decision.

Insurance cover – Choose a deal that offers insurance cover on leasing vehicles and also check the details of insurance premiums charged during leasing period. Choose a car that offers less premiums.

Negotiate (bargain) price – Try to bargain on the final price, as leasing companies can reduce at least 5%. But be careful as they may include the negotiated price in monthly payments.

Credit/debit card blocking – Some lease companies block credit cards of customers for financial security, check with the dealer if they follow this system.

Lease agreement – This is very crucial both for the lessee and the leaser. The agreement will disclose all the information about the customer who leases the car and the company who is offering lease. Read thoroughly all the terms and conditions before signing the contract. Make sure you have one or two witness at the time of signing the contract.

By considering the above things, you can avoid getting cheated by leasing companies and can enjoy comforts of leasing.

Updated: March 20, 2015 — 2:40 am

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