Tips on leasing a new or used car

The biggest temptation about car leasing is that you don't have to pay the total bill for the car you want to drive

. You only pay for the use of that vehicle for a specific period. It's not renting, but it's close. Evaluating a lease is simple, as long as you consider these issues.

The down payment and any extra fees, the monthly payment, the number of months or years that you're leasing, and other variable factors at the end of the lease. When you're leasing, your monthly payment is based on the difference between the vehicle's initial cost, and what it should be worth by the end of the lease contract. This difference depends on the interest rate.

Usually, your down payment and monthly charges will be lower with a leased vehicle than on a vehicle that you're making monthly payments on to own outright. That's why you are able to obtain a better vehicle for the same cash you put on a down payment. There's a chance that it could take nothing more to secure a lease than the first monthly payment and an extra security deposit, which is equal to around one monthly payment. Don't assume anything, though. Quite a few lease deals require an enormous down payment and other possible expenses.

Your credit score means a great deal when used car leasing or leasing a new car. The better your credit score, the less you'll have to put on a down payment, yet the better the car you can get. A mediocre credit score means a lot more expensive for a lot less. A bad credit score might get turned down, but it's unlikely.

Whatever happens in the meantime, when the lease ends, you return the vehicle to a dealer without any other issues. Just make sure that the vehicle is in good condition. Some lease terms will give you the option of purchasing the vehicle when the contract ends. If you really like the car, then there's nothing wrong with that, as long as you can afford it. Just remember that it will be even more expensive than buying it in full.

When you're looking around for a lease and find some dealers that want your business, try to make them compete with each other for your business. You might get lucky and get a down payment waived or a decreased monthly payment.

Make sure to use common sense when looking over the deals presented. Always calculate the full costs of the lease terms for the cars you want before committing. There are a lot of options in places to look for leases. Leasing agents or brokers might be leasing several brands that could beat a deal from a more established car dealer.

Leggat national leasing is a great place to look for a used or new car lease. They offer all types of vehicles at very competitive prices. For more information, you can visit http://www.leggatleasing.ca/.

Tips on leasing a new or used car

By: Tod Martin

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