I’ve recently purchased a new car on a lease which I’ve not before done. My last car was PCP and to be quite honest I don’t have much knowledge on any of the options. With smaller down payments and more affordable monthly payments compared to new car financing, you can often save a small fortune by choosing to lease a car. And you usually get a brand new car that is still under the manufacturer’s warranty.
Follow these cost-saving tips to further reduce your pay-outs:
- You need to choose which make and model you want to go for and should consider the depreciation value of the car. Vehicles that hold their value better often come with cheaper monthly payments.
- A higher deposit will bring down your monthly payments which for some is a better option to take. A lease is like a loan: the more you pay off, the less interest you pay.
- It is always good to find outif your lease comes with Guaranteed Auto Protection (GAP). This is a form of insurance that protects you against the costs of theft and accidents, which can leave you with a hefty bill if left uncovered.
- Make sure your lease stays within the manufacturer’s warranty. This is a key selling point of a lease as it protects you against faulty parts.
- If you tend to use your car for many long journeys, then you should definitely consider buying extra miles at the beginning of your lease. If you go over the allotted mileage, the cost per miles will be sold at a higher rate at the end of the lease. Ask about reimbursement for any unused mileage.
To find out more about the benefits of leasing a car with Lookers, contact your nearest dealership today to register your interest. Our knowledgeable and experienced team is on hand to offer guidance about the best option for your unique needs and budget.