A car is a great way to get your self into a stylish new vehicle without having to pay the exorbitant costs that go along with owning a stylish new vehicle. At the end of your leasing period, which is typically about two years, you get to hand the vehicle back to the leasing company and select a brand-new vehicle to drive. You also do not have to worry about qualifying for a bank loan in order to purchase a vehicle. It’s a win win situation for you! If you have never used a car leasing service before, and then you want to make sure that you have clarified the points below with your service before you sign any kind of commitment or lease with them. According to Smart Auto Leasing, these questions can help give you an idea about whether or not you should consider doing business with them.
- What kind of insurance is included with the car lease? Sometimes the answer may be none, sometimes they may include gap insurance coverage, and sometimes they may provide more. There is not really a wrong answer to this question, because every car leasing service is different, but if they do not provide you with any kind of additional insurance coverage then this should be reflected in the cost of the lease. In other words, you should be paying less for a vehicle where they do not provide additional insurance coverage. Also, if they do not provide gap insurance this is something we highly recommend you get on your own.
- What are the mileage limits? No matter where you decide to lease your car from, there is going to be some kind of mileage limit written into your leasing contract. This can vary from company to company. The reason you want to be aware of this is that a leasing service will charge you additional fees if you go over that mileage limit. If your mileage limit is 10,000 miles a year and you drive 15,000, then you are going to end up paying hefty fine. It is important that you have an understanding of how many miles you will be driving during your car lease before you sign a leasing contract. That way you can have them make the appropriate adjustments to your leasing contract so you do not end up paying more money than you want to.
- What kind of damages will I be held responsible for? Normal wear and tear on a vehicle is expected during a leasing period, but extensive damage is going to be your responsibility while the car is in your possession. Each leasing service has a different parameters for what they consider “extensive damage” so make sure you familiarize yourself with this ahead of time. Of course large dents or scrapes on the outside of the vehicle Will be charged to you, but it is helpful to clarify what their policy is for small dents and scratches or rips on the interior or exterior of the car.