Leasing a car privately is not
nearly as complicated as it may sound. The required down payment for
a lease is less than the usual 20% one might pay to buy the vehicle
outright.
One of the little known secrets though is… don’t even
breathe the idea that you’re considering leasing unless you have
come to an agreement with the dealership on the sale price. Aim to
negotiate the sale price based on the bottom dollar the dealer is
willing to accept (this figure is the equivalent of the dealerships
cost). You can find this bottom dollar figure for a nominal fee by
visiting different online websites.
It is important to pay attention to
the length of the lease. Typical leases are anywhere from 24 to 48
months. However, there can be variances i.e. 30, 39, or 42 months.
These variances are frequently intended to get you to return to the
dealership during slow months when sales need to be increased.
In most cases, it is preferable to
avoid worry and frustration when it comes to leasing a car privately.
With that in mind, there is important insight to be gained from
thorough research. The lease, by definition, is the contract between
the prospective buyer (or lessee) and the dealer. Monthly payments
may vary based on the dealership and the type of car you chose.
Statistics have shown that monthly payments for a lease can be 30-50%
less than a monthly payment on a car loan.
Advantages of leasing a car
privately include benefits such as warranty with limited repairs and
maintenance. There are some restrictions, but typically these lease
providers will cover basic costs of maintenance. Another advantage
is tax exemption since you do not actually own the automobile. In
addition, if you have made all of your monthly lease payments, at the
end of your lease you may have the option to own the vehicle…
depending on your terms of agreement.
With any lease option there are also
drawbacks. Interest rates are often very high and with mileage
restrictions there are sometimes outrageous fees for excessive miles.
It is imperative that you do your research and decide which option
is best for your particular situation. Once you have decided which
option is best for you, work toward negotiating the sale price.
Again, it is important to do your research before taking this step.
When the sale price has been
negotiated, make sure you have the car checked out by someone you
trust to make sure it is mechanically sound, then check previous
ownership and make sure that the automobile has not been used as
collateral on a loan by previous owners.
When leasing a car privately, if you
don’t know the individual, make sure you check the credentials of
the seller and compare the VIN on the vehicle to the one on the
title. These steps alone could save you much hassle down the road.
It is also important to make sure the agreement is in writing and ask
for a receipt to avoid any disagreement later.
References
Няма коментари:
Публикуване на коментар