Smart Tips for Saving Money When Leasing a Car

In some situations, leasing a car can be your best option for getting from point A to point B. The monthly payments are usually less than financing the purchase of a new car and the down payment is usually less too. The vehicle will be brand new and will be covered by the warranty from the manufacturer.

Leasing a car is becoming more popular in the current economic climate as the fixed monthly payments and protection against unforeseen maintenance costs can provide reassurance. You can even lease for only 12 months if you are not sure about your economic future but you want a short term way of owning a vehicle.


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However, while there are some benefits to leasing a car it is also important to watch out for the potential pitfalls. For example, when you lease a car you never actually own the vehicle and you will incur serious financial penalties if you exceed the mileage in the contract or damage the car.

If you are uninformed when you are selecting your car lease, it can be difficult to know how to get the best deal. If you can keep these clever tips in mind you will be able to save yourself a lot of cash:

  • Understand that when you are leasing a car you are essentially renting it, but you are paying for the predetermined depreciation of the vehicle over the length of the lease.
  • Make sure you take your time and do the research, reading up on how car leasing works and looking at several different dealerships before choosing the right one.
  • First of all, you should negotiate the purchase price of the car just like you would if you were going to buy it. It will affect the cost of your lease, so get it down as low as possible.
  • Don’t be afraid to also bargain on the down payment, purchase-option price and the mileage limit. These things are always negotiable.
  • Pay as much of a down payment as you can afford, as the more you put down in the beginning the smaller your finance charges will be.
  • Make sure that you read the fine print and find out about any lease fees which might be involved in the lease. These will apply to your monthly payment so you should know about them in advance.

If you plan to lease a car, keep these tips in mind in order to save money on your vehicle lease.

These are just a few pieces of smart advice which will help you save money on a car lease. To learn more about leasing a car, visit www.signaturecarleasing.co.uk

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