Common Car Leasing Myths Exposed

Car leasing is the best way to fulfill your car requirements without investing in a new car

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This process works very simply where the owner of the car provides the car on lease and the lessee is asked to perform some monthly payments. The amount is decided according to the type of car and other factors. Once the lease is taken, the car taker is asked to follow certain mileage restrictions which are pre-decided at the time of contract. Overall this facility works peacefully but due to certain rumors people tend to grow wary of this concept. There are many myths and misconceptions present for leasing of cars which are nothing but false. If you require a car for commuting a long distance to the office or for your big family, leasing is the best option. If you are chary of going this way due to some myths then read on to get a reality check.

Leasing is costlier than buying a new car

This is a complete myth and is circulated by people that were asked for extra payments due to negligence on contract. The cost of car taken on lease could be more in several conditions. The first is when you exceed the decided mileage per year, the second - if you keep the car for an extended time than the period stated in the contract and the third is when you cause car damage and get charged. If you are sure in mind to use the car for a restricted time and according to the rules then this option is much more economical than buying a new car. There is another condition where the leasing might get costlier; this is when you decide to purchase the car after keeping it for many years. The cost you pay along with what you have paid is quite more than a new car. But if you decide to give that after it using for a few years your contract becomes economical.

Car leasing is very unsafe and full of scammers

It is true that every business has genuine as well as scam providers. This is also true with leasing of cars but not all the time. Certain people avoid leasing only for the wrong thinking that all providers are scammers. You can escape them in different ways such as comparison of offers, avoiding extremely affordable offers and so on. If you find a leasing company offering a car at a very affordable rate, understand that either the car attracts more tax or other hidden payments are involved. Never go for too good to be true offers as they are at many times scams.

Once the lease contract is made it cannot be broken or altered

This myth is the biggest that scares people out of car leasing. Generally car owners or companies make a long duration contract that extends to years. This somehow develops worries in the mind of the person regarding the term of contract. One can easily terminate the contract in between if they notice any problems with the car or their requirement is over. The only thing is they need to pay an early submission fee to the owner for terminating the contract. There is an option to escape from the costly termination fees and that is to shift the contract to a friend or family member.

Be wary of any such myths about car leasing and enjoy the facility.

by: Cynthia Lambert

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