Getting behind the wheel of a luxury car used to be a dream that never came true for many hopeful drivers. However, this changed in the 1960s when a car salesman at a Chevrolet showroom analyzed the financing deals that allowed companies to lease entire vehicle fleets without the burden of ownership. The first car J. Eustace Wolfington attempted to lease on a personal basis was a new Chevy Impala with a luxury trim. It would take two decades before his innovative leasing system took hold across the United States.
The perennial debate about whether it is better to buy or to lease is easily settled when luxury vehicles are introduced. Generally speaking, all cars depreciate quickly in terms of resale value. Unless a driver has a definite plan to maintain an exotic model in collectible shape, meaning keeping the odometer under 1,000 miles over more than two decades, leasing is a very sensible option. Here are seven tips for drivers contemplating their first luxury car lease.
1. Understand the Lease Terms
Drivers who are not familiar with auto leasing have every right to be thoroughly educated in this regard. If a dealership does not want to bother explaining the process, another one will certainly jump at the opportunity.
2. Insist on a New Car
Some dealerships offer lease deals on pre-owned cars, but it is better to stay away from used when it comes to luxury cars. Being able to drive a new car is an intrinsic part of the leasing experience.
3. Improve Your Credit Profile
For drivers in San Diego County, car leasing should not be a spur-of-the-moment decision. In most cases, a luxury car lease requires good credit. For this reason, it is better to plan in advance by paying off credit cards and fixing any negative items that appear on your credit background check.
4. Predict the Mileage
A leased luxury car would make a terrible Uber vehicle. The dealer has a goal to sell the vehicle in a few years down the line, which means the lessee will be subject to a mileage cap. Drivers who plan to frequently go on long road trips may wish to reconsider their driving habits.
5. Negotiate the Lease Terms
The American tradition of negotiating in an auto dealership extends to leasing. Monthly payments are not set in stone. Drivers who hint at their ability to provide a solid down payment may be in a better position to negotiate more favorable conditions.
6. Check for Deals Online
Internet managers at auto dealerships are often tasked with extending the best lease deals on the lot, particularly during a slow month. For this reason, prospective lessees should make it a point to check the dealer’s website before their visit to the showroom.
7. Ask for Maximum Trim Packages
The prospect of a nice down payment may prompt dealers to go the extra mile for some drivers. This would be a good time to insist on the most luxurious, stylish, and advanced trim package available.
When looking for a luxury car to lease, you can simplify the process by relying on trusted auto brokers. San Diego County residents should reach out to Below Invoice to find the perfect vehicle to lease. Call 949-630-0303 today to schedule an appointment.