WHAT TO KNOW ABOUT CAR LEASING: 6 PILLARS

Leasing a car is not ownership but the feeling of freedom because of driving the latest model cars with the opportunity to change them regularly and save your money. The key point you might ask yourself is what to know about car leasing.

However, lower monthly payments, warranty-match terms, and new technologies make the process easier and much more pleasant. So, leasing is a successful combination of great options for everybody like satisfying your needs, lowering your costs, giving you a choice!

If you feel confused after arriving in the US and having a need for a car we are here to help you and make the lease deal clear for you. As an NYC-based car leasing company with a wide experience, we will share some rules on how to rent a proper car easily.

What to know about car leasing?

The key points you should take before driving a leased vehicle are understanding the process, deep consideration, and bargaining. When you know how to behave and cooperate you are ready to be successful in a good lease deal. It’s high time to learn some general points that affect the lease contract! 

Be curious and attentive

Understanding all the aspects of driving the car after leasing will help you to feel more comfortable and confident. You will also be able to hold substantial negotiations with the company as well. Don’t hesitate to contact your personal expert to ask for some extra info you are interested in.

Diving deeply into the leasing is useful for people who are like trust but verify. You will communicate with many people and something won’t depend personally on you. Of course, your leasing company will provide all the main activities. But you have to check the documents, be attentive to the mileage and fees, and state your needs and preferences. 

Don’t be afraid to bargain

Bargaining will be appropriate during this process like for buying the car. It will be obvious that you know much about car leasing and are ready to communicate and discuss the details. This psychological trick works on you!

two men shaking hands

Consider the prices before car leasing

First, you have to know the leasing slang. Money factor means the amount of money you will be charged for a lease. This number often looks like 0.002. You can convert it into an interest rate by multiplying by 2,400. The lower interest rate is better for you. Don’t forget to discuss it with your personal assistant because it has to be appropriate for your credit score.

To talk about the money factor as not slang, let’s consider the budget. You have to take into consideration monthly payments and determine the costs which are affordable for you. The car lease system in New York is working well, so you can find free delivery, door-to-door services, and other democratic programs for “first-time buyers”. 

Extra fees

Don’t forget about some extra fees for car insurance, gas, taxes and registration, and acquisition fees. The initial payment will be your first cost at the beginning. It’s not a part of the monthly payments but has a big impact on them.

The initial payment is made on the agreement and the higher it is, the lower your regular costs per month are. The warranty will also be an extra payment if you drive a leased vehicle longer than the warranty is valid. The general lease price should include all these points.

Reduce your costs by being careful

Car insurance is an extra payment as we mentioned before and you have to know that it doesn’t cover all the damages like accident crashes or wear and tear services. That’s why usually the extra payment includes collision insurance (accident with other objects) and comprehensive insurance (theft, fire, etc.).

Share your habits to improve car leasing 

The most interesting and decisive part is making a choice of a model. Be attentive with understanding your goal to drive an appropriate car. Do you need it for a business trip to attend some meetings at the office? Are you going to drive around New York and back home with your family? You have to understand your priorities as well.

Do you care about speed, general outlook, comfort, or reliability? Take your lifestyle into consideration and it will be easier to choose a good vehicle for you. Tell your company everything you know about car leasing and the details which are important for you and can influence your choice.

Don’t tell a lie about the distance

Lease payments directly depend on how many miles you need. Mostly, the number is about 12,000 miles per year. For instance, commonly leasing terms are 36 months (3 years) and your annual mileage will be 36,000  miles. But this aspect requires being careful because if you go over your limit, you will be charged a fee per mile. It is considered to be a better decision to buy the number of miles you choose and not to pay anything extra.

So, you are ready to lease your car! The last thing you need to know is similar to all the current advice – just talk. Keep the conversation with your Grand Prix Motors personal expert and you will be aware of all the info you want. Do you think you know all the secrets? Hold a minute, we will reveal even more!

#enjoy your freedom with Grand Prix Motors!

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