June 3, 2023


Born to perform

What is car leasing and why is it a good option?

3 min read
5 Signs That The Buyer Likes Your Car | CARRO Blog

Car leasing is a financial agreement between you and a leasing agency or dealership. You are essentially paying to drive a new car without owning it. Leasing a car is a good idea if you are looking at “renting” a vehicle for a longer term than actually renting one. With the popularity of reviews and customer feedback, you are able to find out all you need to know about the aspects of lease companies reviewed on sites such as US-Reviews.com. Reading reviews allows you to read ratings of the agency or dealers service, or see if anyone had a specific issue that you would rather avoid when choosing a leasing company or dealership.

In this article we will share with you why you should consider leasing a car. The first reason is straightforward. Leasing a car has the same benefits of a new car without the hassle of having to sell a used vehicle when you want to trade up. Before leasing, know what type of car you want to lease. Do some research on the vehicle, and read customer reviews to uncover any small issues or problems you were not aware of.

The payment of a lease car is in the form of affordable monthly installments that you are able to negotiate to stay within your budget. Overextending yourself in terms of what you can afford can lead to you missing a payment, which will reflect negatively on your credit score.

At the end of the lease agreement, you are able to purchase your lease car. This will cost you less than buying another used car, as the cost will be the remainder of the value of the vehicle after the lease period. The details relating to the purchasing of your lease car once your agreement ends will be in the terms and conditions of the contract. It is important to note that not all lease agencies or dealerships offer the purchase option.

Most leasing agencies have a mileage limit in place. This is usually between 10 000 and 14 000 miles per annum. You are able to negotiate a higher mileage limit and have that added to your monthly premium than paying the per-mile rates once you have exceeded your limit.

Taking a 2 year minimum lease contract makes more sense than buying a car for a longer payment period, as well as saving you the hassle of having to sell the vehicle.

Consider how much you drive, as well as your lifestyle. Leasing is a more affordable option if you know you are not going to be using the car for long trips, or if you do, not that often. Knowing how much you can afford to pay monthly for a vehicle is one of the things you should establish before you look at any leasing options.

Some lease agencies offer service costs such as maintenance and insurance, which will be added to your monthly installment. Do your research and see if you are able to get it cheaper by going private.

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