You have made an unusual New Year’s resolution. The one main goal is to make sure that you do not have to buy a new car during the year 2018. After two totaled cars a month apart in the year 2017, you feel like you became an unwilling expert on the best car lease deals. In fact, you have so many car dealers’ names in your phone’s contact list that they out number the list of names of parents in the near neighborhood.
There is a few simple secrets to how car lease deals work. Although these secrets may seem too simple to even mention, the fact of the matter is that in the middle of the dealing process it is easy to forget even these three important facts about car lease deals:
Milage Matters. It is always important to understand the number of miles a lease allows for a year. The difference, for instance, between a lease that allows 10,000 miles and 15,000 miles can be significant. If you are a family who knows that you are going to buy out the lease at the end of the contract, the milage limitations are less of a problem but it is important to realize that the milage limits also play a significant role in the price of any lease. For instance, the lowest prices on leases are often available on contracts with the lowest milage limits.
Price Matters.The bottom line is that if you really want to know how good of a deal a lease is it is essential to combine the total amount of lease payments with the buyout price. If you truly are not interested in ever buying the lease out then there is a case to be made that the buyout amount does not matter. For any buyer who is considering purchasing the car at the end of the lease, however, you must pay careful attention to the total of the lease fees and the buyout. Likewise, it is also important to realize that money also matters when it come to the down payment and documentation fees. In most cases, the lowest leases are only available if you provide a significant amount of money up front.
Timing Matters. One of the biggest secrets to finding the best leasing deal is to wait and look for bargains at the end of a quarter or, better yet, at the end of the year. If you are not picky, for instance, about what kind of car that you want to lease you can watch to see which dealers have the biggest amount of remaining cars on the lot. Excess inventory makes for far more favorable lease rates. If, however, you have your heart set on getting a lease on a new Ford Focus for your 16 year old daughter timing may not always matter as much. Customers who are willing to keep an open mind about the kind of car that they lease though can some times find some very great deals at the end of a sales year.
Car Leases Can Vary Greatly in Both Price and Milage
Whether you are looking for certified used cars from local Ford dealers or you are considering new car leases from any dealer, it is always important to make sure that you pay to three key components: milage, price, and timing. It might be true that the local Ford service center has the best maintenance in the area, but it is still important to pay careful attention to the purchase and lease price deals.
Car lease deals can be confusing, but if you do your research ahead of time you can have a list of priorities that you want to focus on. If you are a family that has the unfortunate experience of having to replace more than one car in a year because of car accidents, your task is enormous. You can, however, use the information that you gained from one lease experience to the next decision. There are many people who think that buying a car is a horrible experience, but research ahead of time helps.