Everyone wants to drive an envy-inducing car and dealerships know it. It’s one of the biggest draws that leasing has for consumers. Of course, not everyone can afford to buy a new car every few years, but with leasing, it sure feels like you can. Leasing can be a confusing process and we want to help you figure out if leasing your next car is the right move for you.
Before you begin looking at a dealership and their numerous leasing options, know your budget. There many different ways to lease—more on that later—and the prices will vary so you need to know the absolute top dollar you can afford for monthly payments. Check the gas milage as well to factor into your monthly gas bill.
As usual, when pertaining to anything legal, read the fine print! When we see or hear an advertisement we often only remember the general numbers and the car. What we don’t know is:
- How many miles it covers
- If you qualify for the deal
- The extras costs
- Fees and taxes
These details matter a great deal when it comes to the bottom line. Do your research online when you hear or see an attractive leasing offer. If the deal still seems like an affordable option to you, visit your local dealership and see exactly what they can offer.
Did I say local dealership? I meant dealerships. Get multiple quotes! Each dealership is under its own management and can offer different deals. Talking to multiple salespeople can also make a difference. Sales representative are trained to make the deal look ideal to you while making it profitable for them. It’s often helpful to go to the dealership a few times and talk to different associates about the pricing they can offer so you know you’re getting the lowest deal.
One major drawback to leasing is the milage tradeoff. There are some extremely attractive leasing offers out there but they have an ultra low-mileage allowance. A general standard for leasing mileage is 12,000 a year, but if you exceed this number you will be charged roughly $0.10-$0.15 per extra mile. This can easily add to your bill if you aren’t careful how often or how far you drive your leased vehicle. If this worries you there is an unlimited-milage option, also called an open-end lease, but your monthly payments will be much higher. If at the end of your leasing the depreciation value is less than the market value you will be charged the difference.
Make sure you visit your New Glarus Repair Shop, Wrecktify, to get your ride in shape to receive top dollar when you’re ready to sell or trade it in for a lease. A clean car will always look better to a buyer and every bit helps. We offer several detailing packages and can help with any repairs your vehicle may need. Contact us today or come check us out!
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