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Westside Kia >> Articles List >> Steps To Lease a New Car

Steps To Lease a New Car

Step 1: Mechanism of car leasing

 

Car leasing is similar to car rental but for some extra fees and a longer time period. There are people who prefer leasing over buying a car as it costs them relatively lesser however, the ownership is never transferred. The monthly payment of lease depends upon the depreciated value of the car so those cars which hold their value are better off with leasing.

 

Step 2: Formulate your deal, miles years and insurance

 

According to most people lease will be for no longer than three years. Almost every car manufacturer offers warranties for about three years and the cars tend to show their age after three years when the warranty begins to fade away.

 

Many people extend lease duration to up to 4-5 years however, this will only increase the money invested in the car and will never be yours. Always try to limit your lease deal for three years in order to make a wise deal.

 

Most lease contracts are made for 12,000 miles and if any person has driven more than 36,000 miles after three years will be liable to pay 10-15 cents for every additional mile charged by the best car dealerships in Houston. You can buy extra miles for 5 cents and get it enrolled within your lease agreement.

 

Also know about the insurance cover of the car. Lease vehicles require heavy coverage as compared to owning a car. The liability to lease firms is greater which is passed on.

Step 3: Estimate the lease payment

 

The lease payment formula is quite complicated. You can use the lease calculator to generate the payment. Obtain the residual value of the car and add in with down payment, mileage and trade-in. calculating the lease amount is important before leasing a car s it will help in making the right decision.

 

Step 4: Check special lease deals

 

Many car manufacturers offer discounted lease offers. However, lease advertisement may include many hidden costs. Always check whether the payment mentioned includes fees, sales tax or includes a large down payment when buying the car.

 

Step 5: Which car to lease?

 

With the New Car inventory tool, trace your car; contact the car dealers for further details. If the car is available, check with other dealers to determine its availability. The more dealers of the car means the better position you have to negotiate with a good lease payment.

 

Step 6: Obtain quotes

 

Go through the internet department of the dealer so as to gain information. You can get information about cars along with obtaining price quotes. In this way, you can compare quotes of different cars and make the right and informed decision.

 

Step 7: Select the dealership and the car salesperson

 

When you call dealerships for the car, test driving the car salesman is also important. Make sure you are comfortable in entering in a deal with the salesperson. Also read the reviews of the dealership and customer ratings in order to get familiarized with the business.

Step 8: Negotiate with the lease payment

 

Going through the internet department can help in this step. You can also use the mobile car buying app for inventor research and last minute pricing. This can be shown to the dealer in case he quotes higher. 

 

Another way can be to negotiate for the lowest price of the car. Although, the salesperson know that you are leasing tends to inflate the prices however, people still feel that requesting monthly payments are an easy way to get a good price.

 

Step 9: Review and sign the agreement

 

Thoroughly go through the contract prior to signing it. Make sure there are no additional charges include and that it has been signed with the internet salesperson you have been dealing with or in front of the finance and insurance manager.

 

Step 10: Manage the car

 

Remember that the car is to be returned in good condition. Get it maintained quite often and that it does not exceeds the mileage limit.

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