If you are thinking of signing your first car lease, do you know where to start? Leasing a vehicle doesn’t have to be a daunting experience, especially if you’re prepared ahead of time. Here are a few tips to help you get started with your vehicle lease.
- Choose the Right Vehicle for You - The first part of the lease process is to find the right vehicle that fits your needs. Things to consider are your daily driving habits, size of the car you need, gas mileage, Other things to consider are the type of transmission you want, how many doors you want your vehicle to have, and what type of engine you’re looking for. Once you know what you’re looking for in a vehicle, you can begin the search process.
- Figure out Your Payments - The next step is to calculate what type of monthly payment you can make based on your budget. Take a look at your monthly expenses and see how much money you have left for your lease payments. You should be able to commit to three years’ worth of payments, which is the average term length of most leases. When you negotiate the price on your vehicle the dealership will want to know your monthly budget, so be prepared.
- Shop Dealerships - You should now be ready to head off to the dealership to look at and test-drive different models. You can find reviews on different dealerships online to help you figure out which ones may be the most reputable to work with, and this is where you will find our dealership. You can even save yourself some time by calling me ahead of time to see if I have the vehicle you’re looking for. When shopping for cars, dealerships should be willing to help you locate exactly what you’re looking for so you don’t have to spend a lot of time driving from one dealership to another. When you meet with any salesmen, you should be ready to test drive the car to make sure you like the way it feels. Since you’ll likely be driving it for a few years, you want to be sure you like the way it handles. Don’t be afraid to ask me plenty of questions, especially if this is your first time leasing a vehicle. I am more than happy to help.
- Negotiate a Price – Now that you have found the right car for you, the next step is to negotiate the price of your lease with the dealership. Ask if we have any incentives we can extend you to bring the price down. After you’ve both agreed on a price, the dealer will likely run your credit to see if we can extend you a loan for the vehicle.
- Contact Your Insurance Company - Before you drive off with your new car, you will want to contact your insurance company to let them know you’re getting a new vehicle. They’ll want to run a quote for your new car and they may want to talk with someone at the dealership to get the details of your purchase, including monthly payment and any safety features it may have that could help lower your monthly premium.
- Sign and Drive - Before you finalize your lease, you’ll want to double check the lease agreement to see if you have any final questions and to make sure the numbers look right. If everything looks okay, then you and the dealer can sign off on the paperwork and you can take home your new vehicle.
Before you commit to leasing a vehicle, you should be aware of your budget, have a good idea of what you’re looking for, and negotiate the right price. With these tips in mind, you should have no problem finding the right vehicle for your needs.
