If you’re in the market for a new car, then you’ve probably heard a fair bit about your payment options, from buying the car outright, to getting a loan from the bank. Here, we’re going to look at leasing, and how it can help you get into the car you never thought you could actually afford in the first place.
The first thing you need to do is find a good company to provide you with the contract and car. The best way to do this is by doing some research on the internet. It’s relatively straightforward, but beware of comparison sites – they’re good as an overview but aren’t always brilliant at comparing like for like. You could start looking here.
Step 2: Find the Car
Next up is to have a look through what the company offers and find your dream car. At this stage, the prices will be a guideline, because we’ll be looking at the contract in the next step, and things might vary, but generally not by a lot. Companies vary in this area – some will have a set list of stock for you to choose from, and others will allow you to order exactly what you want from a dealership, so if you’ve got something very specific in mind, it should factor into step one.
Step 3: Work Out the Contract
In most cases, there won’t be a single set contract that you’ll be going with. You’ll have some options, such as the initial payment, the duration of the agreement and the mileage you can cover each year. Play with these options to get the balance right of cost and need. Once you’re done, you’re ready to take out the agreement. Remember to include everything you need, as later amendments may cost you more, or may not be possible at all. Use a calculator to make sure you’ve thought of all the costs.
Step 4: Enjoy the Car
You’re now free to enjoy the car for as long as you’ve got the contract for. You don’t need to worry about things like depreciation any more, as you won’t be selling on the car at the end of things. Remember not to go over your mileage limit or you’ll be paying extra, and keep the car in good condition to avoid paying out at the end of the agreement.