How Do I Lease a Car?
After finding a new vehicle at Boardwalk Honda near Atlantic City or Egg Harbor, you can either buy or lease it. Both have their benefits, but leasing may be a better fit—especially if you like getting the latest features every few years.
If this sounds like the finance option you would want, then keep reading to learn how to lease a car.
Steps to Leasing a Car
Leasing a car can be easy, as you just need to follow these steps...
- Create a budget: See what you can afford to pay each month, after you subtract your total expenses from your monthly income. Just remember to set aside money for gas, maintenance, and auto insurance.
- Decide what type of car you want: Do you take a lot of solo trips? Then consider getting a fuel-efficient sedan. Do you currently have or are planning to have kids soon? Then maybe you want to get an SUV. Think about what you need a vehicle for before deciding on the body style.
- Create an automobile wish list: Make a list of vehicles that fit with your budget. You’ll also want to consider the features that you want or need. While heated seats may be great, if your area doesn’t get too cold that often, then you may agree to do without this amenity.
- Take a test drive: Once you have your list, you can visit your local dealership to test drive those models. Pay attention to how comfortable the seats are, how easy the features are to use, and how well the car performs on the road.
- Start the leasing process: After you decide on a specific car, you’ll want to speak with a finance expert to start the leasing process. Think about how many miles you drive every day, as that’ll go into your lease agreement. Plus, if you’re trading in a car, that can go toward the down payment.
- Sign on the dotted line: When the agreement is all written out and explained to you in detail, you’ll just need to sign on the dotted line. Then, we’ll hand you the keys, and you’ll get to drive home in a brand-new car.
Tips for Leasing an Automobile
Leasing a vehicle is usually less expensive than financing the same model. That’s because a lease typically requires a low down payment, along with lower monthly payments (since you’re only paying off the depreciation value). Plus, leases usually end after three years, before any major repairs or replacements are needed. Therefore, maintenance may cost less overall, as well.
However, there are some things to keep in mind when it comes to leasing. One has to do with any potential extra fees. We mentioned mileage above. You’ll need to pick the right annual mileage plan for your lifestyle, whether that’d be 10,000, 12,000, or 15,000 miles. Otherwise, you may need to pay overage fees at the end of your lease.
You’ll also want to keep the vehicle in the same condition as when you first drove it home. That means not making any changes to the car’s appearance, as well as avoiding any major damages. But, before you sign your lease agreement, you could select from various optional vehicle protection plans. So, if your vehicle does endure any major wear and tear, you’d be covered and wouldn’t have to pay any extra fees.
Lease a Vehicle Today
There’s more to learn about leasing a car, which the finance experts at Boardwalk Honda would be happy to help with. Be sure to contact them today with any questions you may have. Then, stop by our Honda dealership near Atlantic City and Egg Harbor to find a new ride to lease today!