Auto Leasing Transactions: Things To Know Before Sealing The Contract
Exercising the right to know should be a part of every person's buying tactic
. Nothing beats knowledge and this is so true in practicing smart consumerism. So if you want to to rent a car it is necessary to acquire the right information before agreeing to the lessor's terms and conditions.First and foremost, auto leasing is an appealing choice for short term lease. However, it is not for everybody. So it is important to determine whether this option is right for you.
Leasing in layman's term is equivalent to renting. In car leasing lessees are only paying a portion of the car's value. Lessees also have to return the car in its original shape, though some may choose to purchase the car when the term of the lease ended.
Car Leasing Singapore: The Benefits Of Auto Renting
Identifying the benefits of car leasing as well as its downsides is one way of knowing if it is right for you. The good thing about auto leasing is that it requires no or little down payment and a relatively less costly monthly payment.
Another big advantage of leasing a car is that the interest rate is tax deductible. This is leased cars used in business engagements. Moreover, the chance of driving a luxury car or, if not, a brand new car is an additional bonus for customers.
Car Leasing Singapore: The Disadvantages Of Car Rentals
Moving on to its downside, the greatest strength of car leasing also seems to be its weakest aspect. This is especially true for careless drivers. Lessors usually charge excessive cost on tear and wear that a scratch should not be considered minor car damage. Make sure to ask the lessor to define the excessive tear and wear charges in written form.
Some lessees are under the false assumption that the car insurance is paid by the car leasing companies. Aside from insurance, lessees will also have to pay for annual mileage, maintenance as well as parking and traffic tickets.
The bottom line is that auto leasing is beneficial if the lessee wishes to use the car for less than two years. But if the lessee will have to keep the car for more than four years, it is better to purchase a new one. This is because when the period of financing a new car ended the customer has something precious to keep.
by: Mavic Bell Some Tips On Getting More Affordable Auto Insurance How Much Is Auto Insurance Going To Cost? You Can Save Money Using Online Auto Insurance Comparisons Florida Obtaining Online Proof Of Car Insurance How To Get Low Income Car Insurance How To Find Out How Much Car Insurance Will Cost Cheap And Low Income Auto Insurance Are There Advantages To No Down Payment Car Insurance? Tips To Find No Down Payment Car Insurance Purchase Auto Insurance Online When In Need Of Coverage For Your Car Finding Affordable Texas Car Insurance Quotes Best Car Insurance For Young Drivers Ways You Can Find The Cheapest Car Insurance