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Many individuals who drive choose not to own their vehicles. Car ownership can be expensive as well as time consuming. These individuals choose instead to lease their vehicles from the dealership. Leasing is somewhat similar to renting. Users who lease their car agree to pay a certain amount up front in taxes, fees and security deposits. They continue to pay a certain amount of money per month for a set term. After that, they have the option to return the lease vehicle or purchase it from the dealership.
One of the best methods of finding a lease vehicle for less is to owners who want out of their lease. There are online services where individuals who have leased a vehicle will charge the lease to someone else. They either cannot afford the lease or have another reason that they no longer wish to have the vehicle. Many of these individuals may be so desperate that they will accept less than their lease payment. Make sure all of the paperwork is in order and the deal is legitimate before handing over any money in a lease transfer situation.
Lease a lower class car. Vehicles that are heavily in demand such as sports cars and convertibles will have higher lease payments. This is due to the fact that many individuals are willing to pay these payments and the car company does not have to accept lower offers to meet their quotas. Economy cars and even some mid-size vehicles can be more difficult to lease. Depending on when you visit the dealership and whether or not they have met their quota, you may be able to score a great deal.
Putting more money down in a security deposit may lower your lease payment. Placing more money down in a security deposit may not give you the lowest possible price for a lease but it is another option that some individuals consider.
Purchase more miles when you know you will go over the lease maximum. Overage rates for lease mileage can be anywhere from $0.25 and up. Purchasing extra miles ahead of time can save you hundreds if not thousands of dollars.
Leasing a used vehicle is another option. Whether or not this is a possibility with the vehicle you are interested in will depend on the dealership and their available inventory. Some dealers are willing to setup used car leases while others would rather sell that used car.
Using all of these tips to lease a car at the lowest possible price will not only save you money, it will save you energy. Do not lease a car until you try at least one of these steps!