IntroductionLeasing a car is an attractivealternative to purchasing. Itinvolves paying for the use ofthe vehicle for a specific timeperiod rather than for ownership.Upon deciding what you wantand need in a vehicle,negotiating a car lease becomesan important step in order to getthe best deal possible.
Benefits of Leasing a VehicleThere are several benefits in leasing a vehicle:1) Without having to make a downpayment and with low monthly paymentsfor leasing a car, you can put your moneytowards an item that does not depreciatein value over time.2) Fixed transportation costs enable moreprecise budgeting.3) There is lower fleet administration costsassociated with leasing a vehicle.
Benefits of Leasing a Vehicle4) The leasing company provides professional maintenanceservices for your vehicle.5) You do not have to maintain relationships with various dealers.6) You will most likely be driving a newer and more luxuriousvehicle which rarely needs more than routine maintenance.
Negotiating a Car LeaseBefore signing a binding contract, it is important tounderstand the fine print on the lease. The lease issupposed to outline capitalized cost, interest rate, taxes,the residual value of the vehicle and the depreciationamount. Acquisition and disposition costs are also typicallyincluded in the lease.Also be informed of any charges associated with excessivewear-and-tear and if you are permitted to add accessoriesto the car.
Negotiating a Car LeaseAlthough certain aspects of the lease are rigid, you can stillattempt negotiating to get the best deal possible.1) Start with negotiating the lease price of the vehicle. This iswhere doing your research is advantageous. Before goingto a leasing company, search up the manufacturer’ssuggested retail price (MSRP) online for the car that youwould like to lease. A good deal is if you are able tonegotiate a price that is $500 - $700 less than the MSRP.
Negotiating a Car Lease2) Leasing a car comes with certain restrictions such as a setnumber of kilometers that can be driven each year with a fee foreach additional kilometer. See if you can get the company toincrease the number of kilometers you are allowed to drivebefore you incur additional charges.
Negotiating a Car Lease3) Inspect the vehicle that you will potentially be leasing – see ifthere is anything that is missing. If something is missing, use this asleverage for negotiation.4) Inquire about any special rebates the company may be offering.5) Ask if the company is able to pay for all or a percentage of theregistration cost and taxes associated with leasing the vehicle.6) Negotiate free or discounted maintenance services into the lease.
ConclusionLeasing a car is a suitablearrangement for someindividuals and providesseveral benefits. Doingresearch and negotiatingcan ensure a fair deal whenleasing a vehicle.
This presentation was created on thebehalf of http://www.questauto.com