Save Money on Your Lease
Save money on your lease vehicle and get more for every dollar you spend on your new car. Leasing cars rather than buying is an alternative that has retained its popularity ever since it was introduced to the market. A lease is essentially an agreement between two parties that says the lessee will pay a certain amount of money to keep the car for a certain set period of time, and then return it at the close of that time period. Safe nighttime driving is still a top priority even with leased cars.
Cost of Leasing a Car
There have been times through the years when leasing a car was a much better deal than buying that same car. Manufacturers have from time to time offered tremendous prices on leases in order to achieve one objective or another. For example, in the late 1990s the domestic automakers offered leases on their compact trucks for incredibly low prices in order to get more of these trucks out on the road and improve their fleet mileage in keeping with new governmental regulations.
There are many different reasons why a company might offer a cheap price on a lease, and at any given time you are likely to see at least one or two models at a dealership that are offered for very low monthly lease prices. But there are some other factors involved in the lease price of a car, truck, or SUV. Lessees need to pay attention to all of these factors in order to make sure leasing is really the best option.
Down Payments on Leases
The one way that some dealerships get customers in the door for lease deals is by advertising very low monthly payments, which of course are a great thing, but not mentioning or highlighting a higher resulting down payment in order to take possession of the vehicle. Those who are considering leasing versus buying need to think about the down payment and find out what it is going to cost out of pocket to drive that car off the lot.
Actually, if your proposed lease is for three years, for example, it is smart to find out the total cost of the vehicle to possess it for three years including down payment, tax, title, and license plates, and all monthly payments, and do the same under the assumption of buying the vehicle. Sometimes it is better to lease because this cost of possessing the car is lower for that time period, plus you don’t have to worry about selling the car at the end of the term. But sometimes you find that buying is actually a more reasonable bargain, and there are cheaper cars that folks can just about pay off in that time span and then go with no payment at all for a while.
Leasing Cars and Car Insurance
And having no payment means there is no need for full coverage car insurance. This can produce some additional big savings on your monthly expenses, since leases have to be fully insured the whole time we possess them. Of course, some drivers don’t mind carrying full coverage in exchange for having that newer vehicle that they can count on and that they don’t have to worry about breaking down.
Getting an affordable lease involves taking into consideration the total cost of possessing the vehicle. Look for good deals at area dealerships on the car you’re interested in. Some dealers have their own lease incentives on top of manufacturer incentives on leases, so shop around to save more. Find cheap car insurance on your lease with our free form.