Leasing a new car is like buying a new car without all of the string attached. It gives people the opportunity to enjoy a new car without worrying about long term commitments and without having to make large upfront payments. While there are many benefits to be had when you lease a car or truck, there are some key mistakes that first time leasers tend to make that they end up regretting. Here are some of the more costly mistakes to avoid:
1. Read the fine print. If an car leasing service is advertising incredibly low monthly payments, you want to make sure that you understand why they are able to do so. Often, the car leasing service is able to advertise extremely low payments because they pair down what is included in the car lease itself. The lease will likely have very low monthly mileage limits and will end up charging you more at the end of the lease if you go over those limits. Most auto leasing companies will typically impose limits of 10,000 to 15,000 a year and if you end up exceeding those limits you will have to pay more for every mile that you go over, which can really add up. You can avoid this by having a good idea of how many miles per year you tend to drive. If you already know that you are going to go above that 15,000 mile limit, then you should find a car to lease that takes that into account in the monthly payments.
2. Do they include gap insurance in their lease? While not a requirement, it is highly desirable for a car leasing company to include this insurance in their contract. If they do not include it, then you should seek out gap insurance on your own. Never lease a car without gap insurance as it leaves you vulnerable if you total the car or it gets stolen early on in your lease.
3. Many people mistakenly believe that when they lease a car, the upkeep of the vehicle is not their problem. After all, they do not OWN the car, right? Wrong. If you rent an apartment and then allow the apartment to fall into disarray, then your landlord is going to expect you to pay for the holes in the wall and the stains on the floor that you caused while you were there. THe same is true for a car leasing service. If you get into a fender bender or scratch the side of the car, then the leasing company is going to expect you to have it fixed, or to pay the costs of getting it fixed when you return the vehicle. Many people like the idea of leasing because it has less responsibility, but you should still treat the vehicle with the same care and respect that you would if you were buying it outright.
If your are looking for an auto leasing service in Dallas, then you should check out the cars and trucks that Smart Auto Leasing has to offer.