One major drawback of car shoppers is a majority of them don’t have clear idea about how the leasing process works in auto industry. Many people consider it as similar to renting which is correct only to some extent. In this context, many leasing companies play trick games with customers making them pay excess of what they should.
Understand the following points
- Leasing terms demand you pay the depreciation amount of a car during the period of lease apart from service charges and interest amount. Therefore while entering into a contract, make sure about the confusing business terms provided by the leasing company. It is always the best choice to get accompanied by an expert who had gone through leasing deals.
- When leasing a car, you basically deal with a financing company and not a car dealer. These leasing companies are tied up with different auto dealers, and based on the price negotiated with you; they buy the vehicle from the car dealer and offer it on lease. So, in no way, you work with a car dealer. That is why; you have a good scope to negotiate the price or terms with the leasing group. Making a mistake in this step can make you repent later.
- Before leasing, you need to consider on three credentials to understand if leasing a car is a correct financial decision for you
- You like driving a new car, due to any reason, in 3-4 years interval;
- You’re likely to drive 15,000 miles or less per year;
- You’ve got a good credit rate;
If you fulfill all three criterion, leasing proves to be beneficial for you.
To avoid all confusing car leasing terms, why not get in touch with Omari Betts , the reputed Sales & Leasing Consultant associated with Maryland based leasing group ChevyChaseAcura. Mr. Omari is operating in the position for a long period and he is extremely popular to car shoppers for his consistent guidelines that benefit them in all terms.
Calculation of the Lease
It is said that crooked leasing companies love dealing with confused car buyers, and it needs no mention, leasing a car is truly a confusing deal. So, before making a deal, talk to your friends who have an idea about leasing, go through internet studies and gain thorough knowledge about how it works or the methods of calculating the lease amount. In the terms, you will find plentiful terms like residual values, cap costs, money factors and others.
Understand each of these factors before you meet a dealer. Keep in mind that there are three basic components that are considered in calculating lease payments. There are depreciation, interest also called as money factor and taxes. Depreciation amount takes the major part while all other factors will be included in calculating leasing. Go through the simplest method to figure out the rental based on a figure like $10,000. If you meet Omari Betts at ChevyChaseAcura, Maryland; you can always get the best price that none can match in the market.