5 tips for renting a new vehicle

Making preparations to lease a new car can be a bit taxing especially if you have

never leased a car before as you always made the decision to own your car instead.

For example, you might not be familiar with all of the jargon or are unsure about the stages of finding the right car and then signing a leasing deal. Or you may not have a clear idea about the array of leasing options that are currently on offer.

Therefore, if you are in this kind of scenario and need some tips to find your new leased vehicle then here's some advice to make your choice slightly easier.

1) Firstly, you should make a lot of preparations. By this I mean that you need to figure out if leasing is the right option both in the present and several years down the line. After you have made your mind up you should do a little internet research on the car you'd like to hire. You want to take the time to think about available option that you are interested in from a car, such as: colour, interiors, body shape, seats, doors and if the car will match your way of life.

2) Then, you should lookup leasing terms on the internet so that you don't get muddled with the language, for example capitalised cost (price for car), money factor (interest formula) and residual value (value of the car at the end of the lease). What you should then do is work out the amount of monthly leasing fees, which you think you can afford or want to pay. This type of information can be easily located by searching the internet and if you happen to be using the internet to hire a car then read through the web page before you take a test drive or sign an agreement.

3) However, do not take monthly payments at face value as they are not as important as you may think. This is because monthly payments can be deceiving or at least misleading, as lower monthly payments usually mean you will have to lease the vehicle for a longer period of time. When you calculate the leasing costs over the term then chances are that it may be about the same amount, so don't be swayed by initial figures. So even if a leasing company is offering a car at a high leasing rate then you need to think about what else they may be offering you in return.

4) If there is any money saving offers available then you should take advantage of them. By doing this you will be able to reduce the capitalised cost of the car and also the monthly payments. Figure out if there are any offers on in the next couple of months and which companies they are available with. Also figure out whether specific manufacturers or a specific model is more affordable at the present. For instance, relatively speaking some Seat leasing deals are quite reasonable at the moment.

5) While you are on your test drive have a good idea of what you need from a car. Don't be wowed by the first car that you are trying out or the latest beemer on the car lot. It may be a better idea to identity specific features that you want from your leased vehicle and then only agree to a deal for a vehicle that has those features.

If you follow these five tips picking the right leasing agreement and car should be really easy and you will then be able to locate the right model for your particular needs, whatever the car brand.

5 tips for renting a new vehicle

By: Leroy Batard

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