The Internet provides the best way to find the best car leasing deals.
Lease-To-Own Deals
Leasing provides a way to drive a vehicle for the term of the lease before ultimately deciding on buying it. This period may provide a provision to allow for you as the lessee to own the vehicle outright. The best deals should provide an option that allows for ownership and be priced appropriately in relation to the lease.
Where to Find Lease Online Deals
There are several websites that help determine which companies offer the best lease financing terms. Sites such as Edmunds and Autotrader give complete lease term and comparative information. You may also go directly to leasing firms like GMAC or banks to find what offers are available.
A lease contract is set at so many miles per year and there may be a penalty if you drive over the agreed mileage. Here is what you need to know about the lease contract and how to protect yourself from loopholes that most contracts will have.
Find out Your Mileage Limit
Ask about the miles on the lease before you sign it, that way you know how many miles you can drive. Also ask how much they will charge you if you do go over the agreed amount of miles. That way you can plan on getting the proper amount of insurance to cover the amount if you go over the amount permitted in the lease. Also, see if you will have any other penalties regarding your miles, for instance, if they will charge you extra for not achieving your limit. Get all of this information down before and make sure you can read through all of the paperwork and fine print included before you sign the contract. That way you know all of the details and not sign it being blinded by what they tell you.
Purchase Mile Insurance
Once you know the amount they charge you if you go over the limit, buy insurance that will cover the total amount and protect you. Also, find out if you can "buy" extra miles on the contract or not. If you are careful, you should be able to stay within the limit of your miles.
What to Do If You Go Over
If you go over your miles, contact your dealership and insurance company if you have mileage covered by them. Try to have those two sort it out if you can. If you do not have insurance that covers mileage, pay up what you owe as soon as you can. You will likely be charged interest, and that will make what you owe that much higher in cost than if you paid it upfront.
If you have yet to go over, but know you will be very soon, you should also contact your dealership and ask them what you can do to prevent this. They may have some tips or advice for you. They may also be able to help you find a way to get more miles out of your lease.
