Car leasing has acquired significant market attractiveness, as it allows paying small down payment which is less than 20% and lesser amount of EMIs up to a certain time span. However, it fails to provide car ownership and once the lease agreement closes, the owner has to return the car to the dealer.
How to Lease a Car
Car leasing is a simple process and does not require too may formality as well. At the outset, the user needs to choose the type of car, whether a sedan, a SUV or a convertible car. In the next step, the user has to pick up the car models and the budget as well. The user needs to create a list of models and choose which type of model is the best suited.
In the third step, a test drive can be tested by the rider. The user has to pay attention on the driving comfort, brake, visibility, locking glass settings, clutch pad setting, gear and the steering wheel condition as well. The most important thing is to check the shocker condition. Otherwise suspension issue will occur and the user might need to service the car again and again. It will add extra cost to the overall budget.
Thinking about the car safety and the comparative lease deals?
Once the user is through with the three steps, in the fourth step, safety parameters should be identified properly. In this stage, the driver should clarify from the sales person whether an anti locking break, air bags, electronic stability control system is available in the selected car or not. These all are significant safety feature, which needs to be identified at the time of choosing the model from the dealers.
Now, the user can compare the lease deals for at least 5 cars. The affordability needs to be cross checked by comparing the car lease details provided by the dealer. One more thing the user should know is that the monthly EMI value will be based upon the final deal, not upon the total car value. Remember, not to disclose about the lease to the dealer until the negotiation gives a satisfactory purchase value to the user.
Before negotiating for the leased car, the user can spend $16 to cross check the true value of the car to the dealer. Once the consumer report comes, the user can make it a final deal. Beware of the sales person and think logically before agreeing with the sales person’s statement. Once all these formalities are over, the user can make the initial down payment and place a request for lowering the EMI as well.
How to get a low EMI?
To get a low EMI, try to make larger amount of down payment while leasing the car. It will lower down the EMI. Hence, the chances of EMI failure will be reduced and the user can also maintain a good credit record as well. Hence, start paying the EMI and gather better driving experiences by leasing a car from a reputed dealer.