Having been in the car leasing business for years, BMW Swapalease has been confronted with quite a number of questions from customers seeking to make the best choice and remain informed of the dos and don’ts of car leasing.
While car leasing is not for everyone, first, you must establish whether or not you should be interested in leasing a car or not. Below are some of the questions you should answer for yourself.
What do I intend on using the car for?
Answering this question enables you to better decide on whether the lease option is a great fit for you or not. For lease options, you will be required to return the car in good condition at the end of the lease term, which means you will be required to take proper care of the vehicle. If whatever you will be using the car for will take a toll on the vehicle tremendously, you may want to re-consider leasing and choose to buy instead.
Do you love the latest cars?
For car lovers, vehicle leasing is a great way to keep up with the latest trends in the automobile world. With leasing, you get to use exotic and high profile cars for less money.
What is the expected mileage?
Generally speaking, car dealerships and leasing companies offer a set amount of annual mileage calculated throughout the contract, whether two or three years. It is important to decide on whether or not you will be able to confine all journeys to fit into the preset limit. In the event you exceed this, the company may charge you an extra fee.
Good credit but low on cash?
When you have a good credit rating, but you are low on cash, car leasing may be a great addition to you as you will be presented with little to no down payment requests and a relatively low monthly payment plan which will significantly be cheaper compared to purchasing the same vehicle.
After deciding to go for BMW Swaplease deals, below are some of the commonly asked questions and answers you need to make a decisive decision.
Top Car Leasing Frequently Asked Questions Answered
What are the advantages of leasing a car?
Car lease offers several advantages. The main advantages you stand to enjoy include low tax on vehicle use, low monthly payment as you will be required to pay for an estimated depreciation of the vehicle under normal use, allows you acquire a new car without having to worry about repair and maintenance cost in addition to fees such as agreement, dealership fees and more. You also do not have to worry about extra issues such as depreciation value of the car and secondhand sale.
Can I part-exchange my old car for a new lease car?
This may be possible; however, this is mainly dependent on the policies of the dealership or the leasing company. You should speak to your leasing company to know more about this offer and whether or not they have provisions for it.
Is it better to lease a car though personal finance or my business?
While both options are available to choose from, especially for persons who run businesses which require impressing customers and clients, it is recommended that you first speak to an accountant to have your finances balanced and give advice based on the crunched numbers.
Can I lease a used car?
A car in most cases does not qualify to be leased if it is not regarded as “VAT qualifying.” This means that cars registered by the dealership for the staff or demonstration use can only be leased up to a certain age.
Can I change the annual contracted mileage during the term?
Leasing companies specify mileage cap on the agreement to help them keep the car in a great condition even at the end of the lease term. However, it is possible for customers to exceed this limit. In cases of this, it is possible to purchase additional mileage on the car or in other cases, you may wait till the end of the lease term and have the extra mileage paid for according to the demands of the dealership.
Is the brand new vehicle from a trusted source?
For qualified and registered dealerships, vehicles supplied for lease are sourced from manufacturers. In certain cases, customers may have to wait some days for specific car orders to be placed and delivered to them.
Do I need to take out a maintenance contract with the dealership or leasing company?
It is important to note that a car maintenance contract is optional; however, choosing this contract option provides you with peace of mind that protects you from unforeseen circumstances and conditions. It is highly recommended but optional.