Major Car Leasing Mistakes to Avoid

Leasing a car is good idea. But, people usually make a few mistakes, while leasing. To make you aware what you need to do while leasing a car, and what you need to avoid, read this article. If you are planning to lease a car, this article will help you. Let us know the common mistake that are to be avoided, while leasing a car.

Paying more in advance
People may feel that it is good pay more money upfront thinking that monthly payments will be less, but it is not advisable. The reason for this is if the vehicle is stolen or wrecked, it brings a problem for you and not the leasing company. Some leasing companies may not reimburse your money even when the insurance pays off for the car. The upfront payment can be negotiated. So, don’t be exited to pay in advance.

Not setting limits
Any leased car will have certain limits that shouldn’t be crossed. In general, every car that is leased will have a mileage limit; and some contracts will also specify the number of miles that a person should drive in a year. So, the person who leases the car shouldn’t cross that mileage limit. If you exceed that limit, you may have to pay more for each mile that you travel. So, better remember this factor.

Neglecting or forgetting the GAP insurance
Every car whether owned or leased needs the insurance. However, some leasing companies in order to keep the premiums low, they forgo the GAP insurance, which is very important especially for leased automobiles. If you neglect considering GAP insurance while leasing the car, you have to pay a lot from your end, later. So, to avoid such a problem, make sure to check whether the car has GAP insurance.

No proper maintenance
Knowingly or unknowingly, if a damage is made to the car beyond the normal wear or tear, the driver needs to pay the extra charges to the leasing company. But, if it is small damage, some companies will treat it as normal thing. If the damage is big and if you made it repaired then some companies will not charge you for the damage, as it is repaired. Otherwise, you may have to pay a lot for the damage done. So, to avoid all these problems, better maintain it properly.

Extending the lease period
This is not a good idea – because, the car and the model may become old, may not be in good condition, making you pay for the maintenance. So, it is better lease another car based on your requirements with good features.

Avoid these mistakes and enjoy the benefits of your leased car until the end of the lease period.