Leasing looks like a difficult process that requires deep knowledge and a lot of analysis. The bad news is that’s true and most buyers usually aren’t aware of leasing contracts’ benefits and saving money tricks. The good news is that you’ve found Grand Prix Motors! Now you start both great ways in your life — educational and driving ones. You will learn how to use a leased vehicle, take all advantages, and manage your personal finance. We will provide you with the major information about the cost to lease a car and how to lower it! You will enjoy this kind of “buying” a car because of a partnership with the leasing leader in the US!
If you feel confused after looking at how much does it cost to lease a car, we have a solution. Look carefully through 3 secret strategies to make a fair deal with your leasing company and reduce your costs!
We’ve talked about the role of bargaining in the leasing process. Leasing is an attractive way to drive any car you want. You rent it for a few years and pay fixed monthly payments. Everyone wants to reveal the secret of how to get the additional flexibility and extra convenience of leasing! Therefore, we will do it today — 3 rules that you have to keep in mind!
Leasing means paying for the usage of the vehicle in a certain period of time. The price is the difference between the car value when you start and finish to lease.
For example, you found the car of your dreams and it costs $27,000. You arranged a leasing agreement for 3 years with the leasing company. The leasing experts calculated the value of this car as $13,000 in 36 months. Your main cost to lease will consist of this depreciation which will be divided into monthly payments.
According to this system, you should find the car with a higher residual value — the remaining cost of the car. In fact, European and Japanese cars usually have better residual values, thus you can concentrate on them. The good point is that luxury and sports cars also keep their value well. It will be the lucky day for fans of such cars to make a deal for a low price.
You know when you lease a vehicle there is a mileage limit that defines how many miles you can drive. In general, it’s one of the vital factors of your leasing process. It affects the car you choose, the price, and extra fees. You can waste your money for excess mileage if you overdrive the number of miles you were given. But also you can prevent yourself from such additional fees for extra miles and even lower your monthly payments.
Sometimes you can ask for a car with a little annual mileage limit. However, only if you understand that you don’t plan any long-term trips, and you are sure about your driving habits. For instance, there are some vehicles with a 7,000 miles limit. It will affect your regular payments a lot. The difference will be obvious but be attentive not to be caught driving more than the allotted miles. So, just be honest with your distance needs and discuss them with your personal assistant!
It sounds not so convincing at first sight, especially for people who don’t want to give some money upfront. However, it’s a good way to minimize your further cost to lease a car. Making the initial payment will lower the monthly costs, and then it will be easier to pay.
The biggest advantage of a down payment is that it affects the capitalized cost reduction. However, you have to understand that it doesn’t lower the total price. If you pay $5,000 upfront, it doesn’t mean that the total price will be lower. It is just to reduce your further payments and to make it more affordable to pay every month.
And the extra bonus from Grand Prix Motors: check the lease specials! A special offer is your lucky way to lease a vehicle with lower payments from the manufacturer. Usually, leasing companies set up lower money factor or the capitalized cost. It is the easiest way to save a lot of costs because you don’t arrange the process by yourself! Just come to the right place at the right time!
Fortunately, you know how to make lease payments affordable and comfortable for you. Remember to take some profit every time you need to make some deals. Agreements are about negotiations and mutual benefits for both sides. If you want the leasing period to be convenient and effortless as well, try to be involved in the process. It’s up to you how much will you pay, what will be the number of miles and repair costs. Contact your GPM personal expert and start driving the luxurious car without an out-of-cash feeling!
Enjoy your freedom with Grand Prix Motors!
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