Some car dealers while advertising their leasing models show lower monthly lease payments on the newly launched ones, but while settling up a lease, they ask the consumers to pay a huge amount right at the beginning of the term to avail that low payment. However, if something unfortunate like an accident or if the car gets stolen happens, the insurance company would surely reimburse the leasing company the value of the car, but that is more unlikely to happen with the money that the customer has paid upfront. So, finally, the consumer would be left with neither the car nor the money. So, Oz Leasing recommends that you never put down more than $2,000 as the upfront payment when you lease a car online.
Forgetting GAP insurance
This is one of the most significant mistakes people make with a new car lease. GAP insurance is the insurance that covers the difference between what your car is worth and how much money you still owe on it. If you do not get GAP insurance, you might find yourself liable for paying the difference if any problems arise in the future.
Not researching online
We live in a consumer-oriented society where individuals rely on the internet to find for the products or services they need, so why leave out car leasing. Leasing a car online is easy as you get tons of best leasing deals to choose from. However, it may surprise you that very few people take the time to research leasing deals online before they sign the dotted line. We recommend that you start your search by reviewing independent online car dealers like Oz leasing for new cars as you get the reviews and rankings as well. By doing your research before leasing, you get an idea of the most popular deals available and which models are the best sellers in each vehicle category.
Failing to maintain the car
Normal wear and tear are normal, but if you return your leased car with significant dents or scratches, the dealer will charge additional fees. You don’t own a leased car, but you need to make sure it is in good condition. Follow the car’s recommended maintenance schedule and ensure that any issues such as dents, cracked glass, and damaged alloy rims are fixed before you return the car. Also, it is important to ask the leasing company early on what they consider to be excessive wear and tear so you are not caught off guard at the lease-end.
The decision to lease a car is an affordable way to get a new car every few years. However, when you lease, make sure to avoid the above-mentioned mistakes.
If you are thinking to lease a car online and looking for the best possible price, get in touch with us today. We have the largest dealership network that automatically finds the car you want thus saving your time. Call us today at (800)362-7273.