Used Car Lease
Felling envious towards your neighbor because he’s got a shiny new car through the popular leasing system? Do not despair, there is a good chance that you can get a car as well. It may not be new as his but if you orientate well, you might end up with something a lot better. The used car leasing is still in its infant stages yet growing more and more with each passing year. Since you have a considerable lower monthly fee and the ability to lease certain “certified” cars, used car leasing is growing more and more in the people’s minds. Think about it: while your neighbor is goofing around in his brand new 2011Toyota, you can smoke him with your 2006 BMW, and pay less than him a month as well.
The entire set of benefits such as low payments determined by comparison, alongside wit the no-hassle leasing method, are valid to the used car leasing system as well as the new ones. Since new cars suffer dramatic depreciation, especially during first year, payments for new car lease may reach really steep levels, on the other hand, an used car will suffer a much attenuated depreciation over time therefore making leasing feels a lot easier to bear, or it can get you a much better car with the same price you’d pay for a new one with considerable lower performances. Naturally, there are some higher risks involved as well in leasing a used car.
Let’s see some of the leasing risks. First of all, comes the set of problems of maintenance and services. Data gathered from customers say that in most cases, a 4 year old car will pose nearly twice as many problems in maintenance and service than a one year old car. Keep in mind the fact that any repairs that need to be done that aren’t covered by your warranty are bared by you, despite the fact that legally the car is not yours. Therefore it may be a good idea to get the bumper to bumper warranty when heading for a lease and try to extend it to cover the full lease term.
Another risk encountered in used car leases is the difficult predictability of a used car’s depreciation on a period of, let’s say five years. There are enormous car variations in the five years old used car segment. Even the exact same model can be found $2000 cheaper or pricier, making it really difficult for the customer to appreciate the true value correctly. Considering that your monthly fees depend directly on that depreciation, the dealer can very well make the depreciation very low, so in result, you pay higher monthly fees, or he can claim high depreciation therefore feeling entitled to push the car’s price upward.
So if you want to lease a used car, head for one that holds its ground extremely well on the market. Cars like BMW, Audi, Mercedes and such will always be considered valuable since they’re not just another nameless brand.
Another good idea is to play your cars right and bargain the price down using all the market evidence you can get. Show the dealer some car evaluation results from Kelley Blue Book, or Edmunds TMV so that he cannot “horse around” with the price.
Always check any kind of warranty that is given to you. Look for comprehensive ones and those that last the entire lease duration.
And most importantly, don’t sign ANYTHING until a trusted mechanic gives a the car proper evaluation containing repairs, possible problems, and maintenance.
Post tags: Tags: car lease, monthly fee, Used Car Lease, used cars