Essential Checklist for Leasing Luxury Vehicles

For most discerning drivers, leasing luxury cars is a smarter option than buying cars. San Diego Countydrivers who plan to get behind the wheel of various models during their driving lifetime may realize this at some point. While leasing a car is in many aspects very similar to renting one, you should keep in mind a lease contract will financially tie you to the vehicle for a few years. To this effect, you should take time to review the recommendations below before you sign the lease agreement.

Make Sure a Lease Is Right for You

The bottom line of leasing is that you will considerably save on monthly payments, but you must understand this is not the most ideal path toward ownership. One option that would make more financial sense than leasing is putting a $3,000 down payment on a Chevrolet Spark and getting a low-interest loan for a five-year term. If this car is still in good condition after 60 months of daily driving, you will be financially ahead of many American drivers, but very few people expect to drive a Spark for so long. Leasing makes financial sense when you are after a BMW X6 equipped with the highest trim level. 

Research Your Options

Researching is the fun part of the checklist. Narrow down your choice of luxury cars to three or four models and start looking for lease deals such as no cash at signing or very low monthly payments with a reasonable down payment. Luxury cars tend to offer many trim packages. Take your time evaluating the options that are better for your driving style, and make sure your monthly lease payments will justify the vehicle you choose.

Clean Up Your Credit

A good credit record can get you a better deal on car leasing. San Diego County drivers may want to approach a luxury lease agreement as a project by paying down high credit card balances now and waiting 90 days for the score to improve. If cleaning up your credit is too difficult, you may want to save up cash for a down payment that gives you leverage in terms of negotiation. 

Review the Contract and the Vehicle

Just because you are leasing instead of buying does not mean you will not be allowed to negotiate. Three-year lease terms are common because of the warranties extended by automakers. Nonetheless, you may be able to convince the dealer to include a service and maintenance agreement to go along with a longer term and increased mileage limits. You may also be able to negotiate the amount of the fine imposed in case you break the lease early. Finally, you should not drive off the lot without going over the equipment your car is supposed to have and thoroughly checking for dents and scratches.

These are just a few of the things to keep in mind if you plan to lease a car. San Diego Countyresidents should get in touch with the reliable auto brokers at Below Invoice when they are ready to lease a luxury vehicle. To schedule an appointment, please call 949-630-0303.