Home » Consumer Reports » Automotive Guide » What to look out for when leasing a car

What to look out for when leasing a car

As covered in this post, leasing has a great many benefits to those looking to own a new car. If you’ve decided that this it’s for you, then there are a few things that you should look out for when choosing a provider and a plan, whether you’re getting your own car, or are using a company like Hitachi Capital Solutions for a business leasing scheme. Just as you’d ensure that you’re purchasing the right car, you need to make sure that you’re getting the right plan.

leasing a car

What to look out for when leasing a car

Maintenance

Many plans include maintenance, which helps to ensure that you’re not left out of pocket when it’s time for a service, or if something goes wrong with the vehicle. What many people forget however, is that new cars come with a warranty, and it’s vital that you ensure you aren’t spending more money than is necessary.

You also need to check the details of the maintenance plan. As an example, it’s very useful for you to have the promise of a courtesy car if yours is off road for any length of time.

Insurance

When you lease a car, you do not own it. This means that you must have comprehensive insurance, rather than just third party, because you cannot hand a damaged vehicle back to the company at the end of the agreement. This could potentially cost you thousands, so make sure that you are properly covered.

Penalties

Most contracts will include penalties for late or missed payments, and it’s a good idea to know what these are before you sign an agreement. There can also be fees for ending the lease early, so check beforehand if you think that this could be likely. Most providers expect you to see out the length of the agreement, because leasing is not the same as rental.

Total Costs

Never sign an agreement without having first gone through the exact details of payment. It’s important to make sure that everything adds up properly, and that you aren’t paying more than you should. It’s not unheard of for mistakes to be made when calculating costs, which could leave you out of pocket. Similarly, when comparing plans, it is imperative that you are comparing like for like, so you can really work out which provider is the cheapest.

Why Leasing a Car is the Best Option

Total Costs for Car Leasing

Leave a Reply