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Tips on leasing your first car

Tips on leasing your first car

After you have decided to lease your first car, the fun of picking one out begins. There are several things to consider when car shopping, and you want to have the power of knowledge going into the process.

In order to get the best leasing deals on cars, you will want to figure out: your budget, the type of vehicle you want, and which car companies offer the best deals. Having pre-approval from a bank is also a good idea so you can determine what your monthly payments will be. 

Getting the Best Deal 

Getting the most bang for your buck is always a smart idea. When leasing a car, there is no exception. Follow these four simple tips when leasing your first car. 

1. Determine Your Budget and Talk to the Bank 

When getting a loan or making payments, it’s always a good idea to figure out your budget first. Talking to a lender to see what you will be approved for and what you are comfortable paying each month is recommended. 

Instead of looking at the dealer’s monthly payments, look at the overall cost or cap cost they are charging. If possible, try to get this number down, which will lower your monthly payments.

2. Decide on What Car You Want to Drive

Making a list of the features you want in a car is a good place to start. Once you have a general idea of the type of car you want, go test drive them. Don’t feel obligated to let the dealer know you need a car now; you simply want to test drive one to see what is best suited for you. 

One of the benefits of leasing a car is it allows you to drive a brand-new car with all of the bells and whistles that you may not have been able to afford otherwise. 

3. Shop Around to Different Dealers

You want to be comfortable with the whole process of leasing a car, from start to finish. Finding a dealership that is open with their terms, honest, and friendly are good qualities to look for. You can also see if any dealerships offer leasing deals, such as no down payment, a lower interest rate, or better lease terms. 

Don’t be afraid to ask for clarification on terms or have a friend or family member look over the terms of the agreement. If the salesperson is not upfront and honest with some of the terms, it’s ok to walk away and find a different dealer.

Once you find a dealership that checks all of your boxes, you will feel more comfortable negotiating all of the terms and doing business with them. This will help ensure you are getting the best deal available.

4. Do You Like the Terms of the…

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