Car lease is nothing but leasing out a vehicle for a longer period of time. It is different from a car rental only in terms of periodicity. You can rent a car for a week, a day or even a few hours, but for a car lease, it typically requires at least a year of usage period. Firstly you need to consider the price and secondly you should learn about the pros and cons of the agreement before entering into it. Once you’ve agreed upon the price to pay, the dealer sells your chosen car to the leasing company. Then the leasing company lets you use the car based on the price you’ve given. You can pay the total amount of the lease in installments every month. The dealer is an agent who acts on your behalf thus he saves you the hassle of scouting for a leasing company. For this work a dealer is given a reasonable commission in each of the purchaser he endorses. With the signing of an agreement between you and the leasing company the dealer’s work ends there. Any concerns regarding the car there after should be directly brought to the leasing company.
Other than the monthly payments made on your car, you still need to pay corresponding insurance fees, applicable taxes and licensing fees. A leasing contract contains these information along with the stipulation that you will use the car for a specified number of year or months. You also need to take a pledge that you will maintain the car in a good running condition.
On completion of the leasing period, you are obligated to return the car to the leasing company. The usual wear and tear is forgivable, but any damage done to the car beyond that will incur additional charges. You even have the option of buying the car you leased or trade in for a brand new car.
Before leasing out a car talk to several dealers and compare prices and benefits of each company. Ask your dealer about the liabilities incase of accident or loss of the car. Choose a car that suits your lifestyle and drive it as if it is your own.
Online Car Loan isn’t it simple!
Applying for loan has been made much simpler with our online car financing. Just take a few minutes away and fill your form online. There are two forms of online auto loan applications:
•Directly to a car loan online company or
•Through an online car dealership
Car leasing made simple! Online!
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