Some people, especially first timers may prefer to opt for car leasing in the UK instead of making a purchase that they will be committed to for many years. But with numerous choices out there, getting a car on lease for the first time can be daunting. This is a guide to selecting the right car for you.
Understanding Car Leasing
It is important to understand the concept of car leasing prior to diving into the details. Leasing a car can be seen as renting it for a prolonged period of time, usually between two and four years. The user of the car doesn’t own the vehicle but gives the vehicle back to the dealer at the expiry of the lease period.
Assessing Your Budget
When you decide that you want to lease a car, make sure you know what you can afford first. Determine what you are willing to pay each month for a lease payment depending on your income and expenses. Keep in mind that you need to include extra expenses which include insurance, servicing as well as fuel. Establishing a reasonable budget can help you choose what is best without incurring financial challenges.
Identifying Your Vehicle Needs
Think about the kind of car that suits your tastes. Do you want something small enough for city driving or a big SUV for a family. Consider issues such as fuel consumption, safety features, number of seats, luggage capacity and the principal intended use for the vehicle. The type of car that suits you will depend on your lifestyle and needs.
Researching and Comparing Cars
Having worked out what you need in a car it is now time to carry out a search for different kinds of vehicles. Look at different makes and models to know what suits your wants and needs. Consider issues around dependability, efficiency and resale value. Research reviews from reliable sources and get advice from people you know that may have experience with the cars you are interested in. come up with a list of vehicles and viable alternatives that are consistent with your requirements.
Understanding Lease Terms
The lease terms will go a long way in affecting the total amount payable as well as convenience associated with your lease. Make sure you look out for things like the lease length, mileage limits, extra charges and what would result in financial penalties or extra charges. Although prolonged rent periods would lead to relatively smaller monthly payments, it entails a personal commitment. Also ask for costs concerning damage and pre termination of the lease. You should read through the terms carefully to make sure they are in line with what you want and need.
Visit Dealerships and Test Drive
With your list of cars and a knowledge about leasing arrangements, you should go round to different dealerships and test the cars on your list. Test driving enables you to feel the car for yourself and establish its convenience, handling and additional features. Pay attention to the way the car runs on the road and whether it meets your expectations. Take advantage of the test drive and don’t shy away from asking anything about the vehicle.
Finalizing Your Choice
After that you need to compare lease offers. Talk to several dealers for quotations on leasing the car you have chosen. Compute the lease rates, per month payments, deposit and any offers or bonuses provided by dealers and vendors. Do not hesitate to negotiate and demand better conditions or prices. It is good to note that the most pocket friendly lease might not be the most appropriate package to settle for, make sure you read the fine print and understand all the details before deciding.
Taking the Plunge
Once you have compared several lease offers and gone back on their terms, make sure you go through your chosen one very carefully. Make sure that everything is per the stipulated terms and conditions contained in the contract. Enquire and seek clarity on ambiguous sections of the document before you sign. When you are satisfied with the terms of the contract, take the plunge and sign the lease agreement and receive your new car on lease.
Enjoy Your New Lease
Congratulations! You have picked the lease car to drive. Learn about the features of the vehicle and relish driving it in the short term without long term purchase commitments. It is important to comply with the lease conditions, ensure timely servicing of the car and appreciate leasing as a freedom and comfort.
Although this can be a very exciting process, it can be a confusing one particularly for first time leasers. To make sure you choose the right lease vehicle, calculate your budget, consider your needs and preferences and read the fine print. Happy Leasing!