Even if you have bought a car before, there are new things to learn about the business of leasing. There is terminology that is germane to just the world of leasing. It’s sometimes hard to know how much your monthly payment on your car lease should be.
It’s important to understand that leasing is just a different way to finance a car. It is actually becoming increasingly popular in recent years. One-third of cars leaving dealerships are now leased. It can be a great option for you depending on your needs and lifestyle.
If you do decide to lease a car, there are certain tips you will want to know on how to make it the best deal for you.
First, you will want to choose a car whose value is steadfast. When you lease a car, you should realize that you are in part paying for its depreciation and tax and fees that may incur. If you choose a car that holds its value, however, it will not depreciate and your lease payment will be less, which is what you want. There are a few terms to know about this. A car with a good resale value has a good “residual value.” You want the car with the higher residual value, basically. Kelley Blue Book’s Best Resale Value award went to the 2016 Toyota Tacoma with a residual value of 72.9%. However, some resale values are only about 45 percent. This is why you will want to research the leasing company and find one with cars that have high resale values.
Another way in which you can get the best auto lease deal is by seeking leasing specials.
How do leasing companies provide these, you might wonder. Well, they are able to provide a low monthly payment by tweaking the leasing formula in a variety of ways. This may include offering a low-interest rate. Inquire at leasing companies near you about the leasing specials they offer.
You will also want to get a solid price on the car you are leasing. You can use a pricing website to find the correct market value price of the car that you wish to lease. This will help to give you an idea of what the monthly price should be. You may also wish to get quotes from dealers once you get the target sales price of your desired for-lease car. You want to shop around a bit and make sure you get the best dealer or leasing company possible. An experienced car lease service will provide you with the best cars and the best bang for your buck. Depending on where you are, there will be a variety of concierge services for car lease deals near you.
One car leasing concierge service stands out from the rest. Whether you are looking for a new luxury car, sports car, SUV, truck, hybrid, or sedan, you can trust Prime Motors to take care of your needs. Prime Motors carries BMW, Mercedes-Benz, Lexus, Range Rover, Cadillac, Nissan and everything in between to make sure we provide the right car for you.