What do you consider first before signing a car lease?
What to Consider Before Signing a Car Lease Watch
- Thread Starter
- 14-05-2013 19:45
- 14-05-2013 19:48
- 14-05-2013 19:50
Think about what you're actually paying for the thing.
If you're taking out something on a 5 year lease multiply your monthlys by 60 and add on your deposit. You might scare yourself.
- 14-05-2013 20:07
Realise that you are renting a car for a fixed period of time and that you are responsible for all maintenance costs. Remember that you obliged to maintain the car as per the lease requirements, which means servicing the car on time, according to the manufacturers time table, using original parts and possibly having to use a main dealer for servicing. That means no saving money getting a mate or an independent specialist to do the work if the lease says you can't. Checking the mileage limit on the lease, go over and they will charge you for each mile at the end of the lease.
It you are unlucky enough to have an accident and write off the car, you are still liable for the difference between what the insurance will pay and the outstanding amount on the lease.
So think long and hard about leasing a car. You will typically be paying the inflated list price, not what the car is actually worth on the road. So look at other ways of funding your car purchase to see if you can get a better deal.