Tips For Making The Most Out Of Your Car Lease
As the number one volume Volkswagen Dealer in Illinois (based on 2018 retail sales), Hawk VW knows a thing or two about making the most out of your car lease in New Lenox or anywhere else in the area. And given that leasing a car makes up a large portion of car sales in the United States, we’d like to make sure that folks who opt to lease a car rather than buy it are getting the most they can out of their lease.
Make Sure You Understand Your Car Lease
The way car leases are structured can be confusing if you’ve never leased a car before (or even if you have), so our first tip is simply to make sure that you understand how a car lease works. With a car lease, you typically make a down payment based on the value of the car you’re leasing. After that down payment, you make monthly payments until the term of your lease is over.
After the lease term ends, you’re required to give the car back. With a car lease in New Lenox or anywhere else you’ll have certain language in your contract that spells out penalties for exceeding your lease’s mileage cap, returning the car in poor condition, and returning the car before your lease is up.
Avoid Lease Penalties
If you violate the terms of your lease by turning the car in early, with significant wear and tear, obvious damage, or other issues, the financial penalties will quickly pile up. Because of this, it’s important that you do not drive your leased car more miles than is allowed in the lease contract—which usually ranges from 10,000 to 15,000 miles each year.
You’ll also want to take proper care of your leased car’s interior and exterior to avoid penalties related to the quality of the car.
Consider Your Down Payment
Your monthly payment will be lower if you make a larger down payment so it’s smart to consider your spending preferences. This one can go either way, but it’s important to recognize that you do have options so that you can choose a path forward that best meets your financial needs.
Reduce Non-Lease Expenses
One final way to make sure you get the most out of your car lease in New Lenox is to choose a dependable model with good mileage and affordable insurance costs.