Vote It Up When Leasing a Car

hen it is time to get a new set of wheels, there are many options on the market. Leasing a car is an alternative to buying, and is great for people who want to drive a brand new car every few years. Leasing also allows drivers to obtain more high-end cars without incurring long payments over several years. Whether you are buying a brand new family car or a luxury sports sedan, leasing is a viable option that allows you to enjoy the car you deserve.

5 Comments

  1. VoteItUp on February 22, 2016 at 5:17 pm

    What is car leasing?

    Simply put, car leasing is another way to describe a long-term car rental. You pay a monthly payment which includes interest for a fixed term. At the end of this term, you can either return the car or buy it outright. Leasing is an alternative to buying and is great for people who want a new car every two to three years or people who don’t drive frequently and don’t desire ownership.

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  2. VoteItUp on February 22, 2016 at 5:18 pm

    What are the advantages to leasing over buying?

    In most cases, leasing is cheaper than buying. The monthly payments on a lease are usually half of what you would pay to finance and buy the car. Because you are only paying for the portion of the time you are using the car, there is usually a cost savings when it comes to leasing versus buying. There is also a lower upfront payment when it comes to leasing. When you lease a car, you simply make the first month’s payment and any taxes, fees or registration costs. If you choose, you can elect to pay more upfront and reduce your monthly payments over the term of your lease.

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  3. VoteItUp on February 22, 2016 at 5:18 pm

    What credit score do I need to lease a car?

    Generally speaking, borrowers with higher credit scores are more likely to be approved for leasing than those with blemished credit. There are several factors that determine your creditworthiness, and you can understand those by obtaining a copy of your credit report beforehand.

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  4. VoteItUp on February 22, 2016 at 5:18 pm

    Can I switch cars during my lease?

    You cannot swap cars during the term of your lease. While leasing mirrors renting in many ways, it does not allow you the same flexibility as a rental. You are bound to the terms of your contract and swapping cars in the middle of the term is not generally allowed when leasing a car. If you expect you may need to switch cars at some point in the near future, keep in mind that it can be difficult to end a lease early. A lease is a legally binding agreement and it will not be easy to get out of. Be sure you understand the terms of your lease before you sign for your new leased car.

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  5. VoteItUp on February 22, 2016 at 5:19 pm

    How negotiable is a car lease?

    The only factor that the car dealer has control over is the price of the car. The acquisition fees, down payment and residuals are controlled by the leasing company and the dealer often has no flexibility in these parts of the lease. In rare cases, the dealer may be able to work with you on these fees but that does not happen often.

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