Why Should I Lease a Car?
A lot of people prefer car leasing in New York because they want to change their vehicle every two to three years. When it’s time for a new car, you may ask, “Do I buy or lease a car?” Both strategies come with benefits, such as:
- Buying a car lets you make payments toward a vehicle that you eventually own outright. The car is yours to keep, sell or trade in.
- Leasing a car gets you a brand new car at an affordable price. You make payments for a pre-determined lease period and return it at the end of your lease. After you return your leased car, you have the option to lease another brand-new car or purchase the leased car.
Your choice of whether to lease or buy depends on your personal situation. If you know you’re going to be driving more than 15,000 to 20,000 miles per year, consider financing a car. If you think you’re going to be driving less, consider leasing a vehicle. A lease is also the better option if you want:
- A brand new car at a good price
- A new car in three years
- The most affordable option
By leasing a car, you avoid headaches of extended warranties, services and other issues that come with older cars. Find a good deal at eAutoLease.com, where you’re never rushed. We want to find you the best possible deal with the right options.
What Do I Need to Know about Leasing a Car?
Before you lease a car, understand the terms and language of the agreement. Leasing terms include:
- MSRP The Manufacturers Suggested Retail Price is the total cost of the car if you were to buy it brand new.
- Sale Price This is the price you pay for leasing the car. The lower your sale price, the lower your monthly payments.
- Money Factor This is the interest amount you pay on your lease, which depends on your credit score, but can be negotiable.
- Residual Value This is the cost of the car after your lease ends. You can buy your car at the end of your lease for this price. If you choose not to, the dealership buys it back at this price.
These figures are all negotiable, except for the MSRP, which is the price set by the manufacturer. At eAutoLease, we offer the lowest prices on the market because we keep our overhead low. Our inventory is entirely online, saving us money on expensive lot rents, and we pass the saving on to you in your lease.
How Do I Negotiate the Best Car Lease Deal?
Leasing a car is easy with eAutoLease. Our specialists customize your lease package to include the options you want and exclude any expensive options that aren’t necessary. We have access to the newest discounts, rebates that haven’t been published and marked-down car leasing inventory. If you live in New York, New Jersey or Pennsylvania, simply call our knowledgeable auto lease representatives to find the best car lease deals.
Since we work with many out-of-state dealers, eAutoLease can find the best lease deals if you’re willing to compromise. The way to get the best price is to be flexible about certain options, such as:
- The specific vehicle, depending on what’s in stock
- The vehicle’s color
- The options you want
- Additional packages included
- A higher mileage limit
If you’ve already selected a vehicle, you can apply for a car lease approval online and have your car delivered the same day. eAutoLease delivers the car right to your front door. We take care of the whole process from A to Z.
What Are the Steps in Leasing a Car?
Leasing a car has never been easier. Just find the right vehicle on our website, fill out the application form, receive approval and schedule a home delivery. You can complete all the steps online, including:
- Figure Out Your Budget Determine the amount you want to spend per month when leasing a car. Take into account the additional monthly cost of car insurance, gas and interest rates. Find a car that falls into your price range.
- Choose A Make And Model Think about what you want from your car. Do you want a luxury car or one that fits your whole family and their luggage for a long trip? Do you want automatic or manual transmission? Do you care about speed or reliability? Pick a car that has the features that are important to you and your life.
- Consider How Many Miles You Drive When leasing a car, you need to figure out how many miles you’ll drive. A common limit is 10,000 or 12,000 miles per year. If you go over your allotted number of miles per year, you’re charged a fee per mile. The price per extra mile over your lease agreement is about 15 to 30 cents. You’re better off buying the miles you need up front than paying the fees when you exceed the limit.
- Browse Models Online After you’ve determined your budget, find the models that your needs on our website. Search our entire database of cars and read more about each model. If you have any questions about specific cars or lease deals, call us at (718) 871-2277 to speak to one of our knowledgeable car leasing experts.
- Choose Your Lease Terms You can negotiate the lease price and terms when leasing a car. Consider what you want vs. what you can afford. Let our experts help you get value for your money. The amount of money you can put down affects your monthly payment. The money you put down, however, isn’t reimbursed if your car is totaled or stolen.
- Finalize Your Lease After you’ve agreed on your lease terms, it’s time to sign the papers and drive away in your brand new car, or we deliver the car to you. Make sure you have the required insurance. When you lease, your new car is covered under warranty in case you need maintenance.
We make leasing an automobile as simple as possible. We’ve enhanced our website to give you complete control over the process and enable you to finish the entire process online: from approval to leasing. Best of all, our specialists are available to assist you along the way if you have any questions.
How Easy Is It to Trade in a Leased Vehicle?
You may trade in a leased car, but your experience depends on several factors. Consider these two examples:
- Let’s say you have a three-year lease agreement and your vehicle is worth $20,000 after the second year. If you still owe $25,000, the $5,000 difference is your penalty for trading it in early. In this case, it’s in your best interest to keep the lease agreement for another year.
- Imagine your car is worth $20,00 after the second year of your lease and you owe $15,000. In this case, you can trade in the vehicle you lease with no penalty and benefit from exiting the lease contract early.
Make sure you have a good reason for wanting to trade in your leased car early. You don’t want to have to pay extra, and you also don’t want to leave money on the table. Call our experienced lease experts to ask about your situation and whether trading in your leased car makes sens
How Can I Avoid Getting Ripped off Leasing a Car?
If you believe you’re a victim of car leasing fraud, call us at (718) 871-2277. We’ll do everything possible to help you. The most common fraudulent car-leasing scams involve:
- A price mismatch on the final documents
- Lying about the interest rate
- Factoring add-ons into the lease that increase its length
The best way to avoid any potential financial drawbacks or scams while leasing a car in New York, New Jersey, or Pennsylvania is to rely on the most reputable car leasing provider. If you work with eAutoLease, you can rest easy, knowing your needs come first. With thousands of satisfied customers, we take pride in providing an outstanding auto leasing experience in the Tri-State area.
