There comes a time in every driver’s life when he asks himself, “To lease or not to lease? That is the question.” (Let’s just hope he’s not wearing tights when asking.) Many of us toy with the idea of leasing our next vehicle, but it is often a new and scary process for people who typically outright purchase. If you’ve decided to take this bold leap into uncharted territory, however, we at Perillo BMW would like to offer you some advice to make the process go as smoothly as possible.
This probably goes without saying, but it is financially better for you to pay less. (No kidding, right?) That’s why you should always browse around our site for specials. And a secret from the inside: the best deal you can get is zero cash at signing. While your monthly payments will be a tad higher, you won’t have to put down a down payment, which can be lost if you get into an accident shortly into your lease.
Our pro tip is to take the money that you would spend on a down payment and instead put that into a savings account to earn interest. Use that money to cover the slightly more expensive monthly payments.
Figure out where you’re going to lease the car from.
Of course, we’re quite partial to Perillo BMW. We do, however, encourage you to compare quotes from other dealers in the area, but we guarantee that you’ll always find the best price with us! At this point in your research, you’ll also want to investigate any additional fees.
And before you take the next step, it’d be wise to check in with your insurance agent to see how much your insurance will go up if you lease a specific vehicle. That way, you’ll be able to calculate your insurance along with the lease rate in your budgeting to see if it is something you can really afford.
Look over the lease agreement—very carefully.
Signing a lease is a big commitment. We always encourage our customers to take a good look at the entire document and to ask any and all questions before signing. Particulars that you’ll want to look for are the length of the lease (typically three years), the number of miles you can drive per year (typically 12,000), whether gap insurance is included, the amount due at signing, and, of course, what your monthly payment will be, including all taxes and fees.
Ask your questions and get the heck out.
It’s been a long process, and we’re sure you’re ready to hit the open road. Just take the time to inspect the car with your salesperson. Make sure you have a spare key, an owner’s manual, and, of course, a copy of the lease. At this point, ask any questions about how the car functions so you don’t have to make unnecessary trips back for instruction. Now get out and enjoy!
Just be sure to stop back in for scheduled maintenance to keep your car in proper running order so you can avoid any fees at the lease’s termination.
If you have any more questions on the leasing process, feel free to stop by Perillo BMW and pick our brains. But please, no tights.