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Steps to Follow While Leasing a Car

Updated: Feb 10, 2020

In recent times, cars have evolved from a luxury accessory to a basic necessity. Cars are deemed more like technological gadgets every day, and less like investments that you hang onto for 10 or 15 years. One of the first things to do before you search for a car is to weigh your options that whether you plan to buy or lease a vehicle.

It can be smart to lease instead of buy due to following reasons:

  • You have lower monthly payments with a low — or no — down payment.

  • You can drive a better car for less money.

  • You have lower repair costs because you are under the vehicle's included factory warranty.

  • You can more easily transition to a new car every two or three years.

  • You don't have trade-in hassles at the end of the lease.

  • You pay less sales tax.

Also nowadays car companies like Toyota/Chevrolet are offering great lease deals which you could avail. Their availability depends upon the location of dealership via zip code and differs on a down payment, monthly payment, duration of lease and mileage.

  • Toyota “all-wheel” drive Camry 2020

  • Toyota “all-wheel” drive Avalon

  • Chevrolet corvette 2020

Corvette is a great sports car. The launch of the new generation for 2020 marks one of the most dramatic redesigns of the decade, with the engine moving from the front of the car to the middle, behind the cockpit.

  • Jeep Grand Cherokee 2020

Excited? You can avail all these lease deals and much more at our leasing office as we always strive to serve to best of our capabilities. Leasing may seem like a daunting task; it will probably feel like you are wading in dark, murky waters. Let us make it easier and simple in order to impart clarity to the procedure.

Steps for Leasing a New Car

  1. Get Acquainted With Leasing

  2. Design Your Lease Deal

  3. Estimate Your Monthly Payment

  4. Check for Manufacturer Lease Deals

  5. Find the Exact Car To Lease

  6. Shop the Internet Department

  7. Visit our leasing office

  8. Review and Sign the Paperwork

  • Get Acquainted With Leasing

When you lease a car, we offer zero down payment then you have to make smaller monthly payments until the term of the lease is up.

Find a lease deal. You should research the best lease deals available in your area to see if any dealerships are offering special pricing

Negotiate the capitalized cost. The price of a vehicle in leasing is called the capitalized cost, or cap cost, and you want it to be as low as possible. The monthly lease payment is based on the difference between the cap cost and the residual value (which is estimated by the lease company and non-negotiable), plus any applicable taxes and fees, divided by the number of months in the lease.

Don't forget the GAP. Make sure that your lease contract includes GAP insurance. This protects you if the car is totaled or stolen

  • Design Your Lease Deal

Do your own research and create a rough lease on your terms, duration and payments to compare with the dealers’.

  • Estimate Your Monthly Payment

It's a good idea to estimate a possible lease payment yourself so you can spot a good deal as you continue shopping.

In addition to a down payment, figure out how much you can pay monthly for a lease agreement. If the car that you've been driving in your dream is, on average, $250 dollars over your monthly maximum, it probably won't make sense to go into debt in order to finance the car.

Know the relationship between a car's residual value and monthly payments. The vehicle’s residual value is the value of the car after you've finished leasing it; it's useful if you decide to buy the car after your lease is up.

Don't get so obsessed with the monthly payment number that you forget about fees. Dealerships are smart; they'll dangle the magical monthly payment number in front of your eyes, and then pack on fees toward the end of the negotiation, often raising the capitalized cost significantly.

  • Check for Manufacturer Lease Deals

Many carmakers periodically offer highly discounted lease specials. However, the advertised specials might have additional costs in the fine print of the lease ad. 

Check for any rebates associated with the car. Go to the manufacturer's website directly and look for rebates associated with leasing the car.

  • Shop the Internet Department

We strongly suggest that you shop through the dealership's Internet department, which offers many advantages over the traditional car shopping experience.

  • Find the exact car to lease

Find the car of your dreams. Identify the car or cars that you want to commit to.

Choose a type— a convertible or a sedan or an SUV

Pick your models— Make a list of car types in your price range. You can reduce non-lease costs by including models with favorable gas mileage, high dependability, top safety features and low insurance premiums.

  • Visit our leasing office

We would help and advise all we can so that you close the best deal possible. Our leasing office is always pleased to have you and assist in getting your dream car at dream rates.

  • Review and Sign the Paperwork

Whether you close the deal at home or at the showroom, the dealership will ask you to sign a contract and an array of documents. Look over the lease agreement.

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