Planning on leasing a car? What you should know in order to get the best deal and avoid making mistakes that can cost you.
Avoid these Mistakes when Leasing a Car
If you’re planning to lease a vehicle, here are some things that you should know before you sign on the dotted line. There are many benefits to leasing a car, but you need to avoid some of the common mistakes as well.
- Don’t pay too much upfront – Many dealerships will advertise super low monthly payments but they may ask you to pay part of the car lease in advance as a form of “deposit”. Preparing will not benefit you if the car is wrecked or stolen in the first few months that you have it.
- Don’t underestimate how many miles you drive – When it comes to a lease, you may have mileage limits on your contract. If you underestimate how much you drive and get low monthly payments at the start, you can end up owing a lot later when you go over in mileage.
- Don’t forget your gap insurance – As you probably know, the value of a new car drops a great deal as soon as it’s driven off the lot. This is why gap insurance is important. If your leased vehicle is stolen or crashed, regular insurance may not cover how much you are left owing on the lease itself. This is where gap coverage comes in to help you out.
- Don’t skip on proper car maintenance – When you lease a vehicle, you can be responsible for damages that go beyond normal wear and tear. If you have dents, big scratches or other issues with the vehicle, or damage to the interior of the vehicle, you’re going to be charged when you go to trade up your lease.
Most people choose to lease a vehicle because it puts them in a newer car with less money than buying it. Sometimes they do it because they want to be able to remain in the most updated vehicle possible, which is important for people who commute a long way for their jobs, or really need a reliable vehicle at all times.
Go to East Hills Chevrolet and see what cars are available.