When it comes time to get behind the wheel of a new-to-you vehicle, you have a lot of options. You could purchase a used vehicle, you could purchase a brand new vehicle, or you could lease a brand new vehicle. For five money-saving facts about car leasing, keep reading.
When leasing a vehicle, you are making monthly payments on a brand new vehicle for a set period of time. Once this time frame is over, you return the vehicle to the dealership. When returning your vehicle, you have the option to buy the vehicle or trade it in for another brand new lease. Not all cars lease for the same rate. When you’re shopping for a vehicle, make sure to explore all of your options. Monthly rates vary from vehicle to vehicle, so you are more likely to find something that is ideal for your budget.
Next, you can negotiate your lease deal. The sticker price is not the price you have to pay. With some tough negotiating skills, you can get behind the wheel of the vehicle you want for a price that is most ideal for your budget.
Did you know you do not have to place a down payment at the time of your lease signing? When leasing a vehicle, there is no down payment necessary. This is appealing to car shoppers who need a vehicle right away, but don’t have the money for a down payment. With leasing, you only have to worry about monthly payments.
If you’re looking to build your credit, leasing is for you. Meeting your monthly lease payments can actually boost your credit score. You can work towards a notable credit score when you are diligent and prompt with your monthly lease payments.
When your lease comes to an end, you can actually qualify for cash equity. In order to do so, the value of your vehicle must increase. When it increases, your vehicle is actually worth more than it was in the beginning. This can result in a cash payout.
If you’re interested in leasing, check out what we have to offer at New York Autobrokers. You can reach us by phone at 631-446-4455. We hope to hear from you soon!