Leasing a used vehicle can be an attractive deal in many ways, no least getting you into that
Leasing a used vehicle can be an attractive deal in many ways, no least
getting you into that luxury model or SUV, for lower monthly payments than
a brand new one. Be prepared, however, to do some more homework to di ect
a good deal.
As with new car-leasing, your price research should focus on the key
figures that are the initial market value and the estimated residual value
of the used car. This is harder to predict since there is no factory-set
sticker price on used cars, and the residual percentage is very much pegged
to a subjective current retail value. Use different sources to get a rough
idea of the value of the used car: your local dealershi , internet
car-evaluating tools, such as Edmunds.com and Cars.com, to name but a few.
Another way to pin down a good estimate is to compare the lease on your
given car to a lease on a new-car with the same make and model. This should
give you a better picture of the difference between leasing new and going
for used. Just like leasing a new car, used vehicle leasing is more
attractive when residual values depreciate the least. You stand a better
chance of finding a bargain in the high-end, luxury vehicles that keep
their values better as used cars.
Next, you need to check the initial mileage and the overall vehicle
condition. The maximum mileage on a used car should be no more than 12,000
miles a year. A 3-years old car with 50,000 miles on the clock is very
unlikely to make a good used-vehicle lease. Check for sig of exce ive
use, like worn seat fabric, worn pedal pads and dirty engine, which might
indicate that the odometer has been rolled back. If the car is not
certified, you need to get it thoroughly i ected. Ask your dealer for a
manufacturer- o ored certification program or have your car certified by
a qualified mechanic or i ection service.
Most used-car deals dont come with gap coverage. This is a ecial type
of coverage, normally offered on a new auto-lease, to cover the co umer if
the leased vehicle is lost, stolen or damaged. Typically, auto-i urance
policies cover only what your car is worth at the time of lo , not what
you still owe on the lease. The difference could run into thousands of
dollars. For peace of mind, do not enter into any used-car lease without
gap-coverage. Arrange it separately with either the lease dealer or your
auto-i urance company.
The article is refered from http://www.bbcok.com, http://www.worldloanpro.com, please go to read more.
getting you into that luxury model or SUV, for lower monthly payments than
a brand new one. Be prepared, however, to do some more homework to di ect
a good deal.
As with new car-leasing, your price research should focus on the key
figures that are the initial market value and the estimated residual value
of the used car. This is harder to predict since there is no factory-set
sticker price on used cars, and the residual percentage is very much pegged
to a subjective current retail value. Use different sources to get a rough
idea of the value of the used car: your local dealershi , internet
car-evaluating tools, such as Edmunds.com and Cars.com, to name but a few.
Another way to pin down a good estimate is to compare the lease on your
given car to a lease on a new-car with the same make and model. This should
give you a better picture of the difference between leasing new and going
for used. Just like leasing a new car, used vehicle leasing is more
attractive when residual values depreciate the least. You stand a better
chance of finding a bargain in the high-end, luxury vehicles that keep
their values better as used cars.
Next, you need to check the initial mileage and the overall vehicle
condition. The maximum mileage on a used car should be no more than 12,000
miles a year. A 3-years old car with 50,000 miles on the clock is very
unlikely to make a good used-vehicle lease. Check for sig of exce ive
use, like worn seat fabric, worn pedal pads and dirty engine, which might
indicate that the odometer has been rolled back. If the car is not
certified, you need to get it thoroughly i ected. Ask your dealer for a
manufacturer- o ored certification program or have your car certified by
a qualified mechanic or i ection service.
Most used-car deals dont come with gap coverage. This is a ecial type
of coverage, normally offered on a new auto-lease, to cover the co umer if
the leased vehicle is lost, stolen or damaged. Typically, auto-i urance
policies cover only what your car is worth at the time of lo , not what
you still owe on the lease. The difference could run into thousands of
dollars. For peace of mind, do not enter into any used-car lease without
gap-coverage. Arrange it separately with either the lease dealer or your
auto-i urance company.
The article is refered from http://www.bbcok.com, http://www.worldloanpro.com, please go to read more.
