Top 10 Critical Mistakes People Make When Leasing a Car

1. Failing to plan ahead; You rely on your ability to stay mobile. It is very important for you to be able to walk out of your house in the morning, put the keys in your car and get to where you are going each and every day. Whether it be to work, school, shopping or picking up someone who is relying on you. You must have a reliable vehicle. Your family and or business is counting on you to arrive alive and on time. So do not wait until it is absolutely necessary that you get a new vehicle. This is a vital part of your life, so treat is as you should. Plan right and plan ahead. Do not wait for the last minute. Cause if you do you will pay too much and make compromises that you should not have to.

2. Failure to know your credit score: Very important, before you even start to shop for your best deal, know your credit score. You should know all you credit scores from the 3 major credit bureaus. This way no one can give you a lease quote that is not based on your true credit score. Many auto dealers advertise deals based only on the top tier credit rating that you may or may not qualify for.

3. Failure to know your annual mileage: You must know how many miles a year you are going to drive. What looks like a great deal is not always the best deal for you if the lease is not constructed properly for you and how many miles you drive a year.

4. Not having a knowledge of leasing: Know the advantages of leasing verse buying and why it is the best way to acquire a new vehicle. Do your due diligence, find people you can trust to do business with, shop around and ask questions. Leasing a new vehicle is a three way partnership between you, the auto manufacturer and the leasing company / financial source. Do you want to hassle with a car dealership or do you want to work with a professional leasing company?

5. Know maintenance: Know what kind of maintenance you will be expected to have preformed on your vehicle and at what mileage intervals?

6. Know warranty: Know what the warranty is and for how many miles and months. You do not want to out lease your warranty.

7. Know insurance cost: Before you finalize any lease deal, talk to your insurance agent and get an insurance quote on the make and model car you are going to lease. You do not want any surprises when you get your new insurance premium.

8. Know trade-in value: If you have a vehicle you want to sell or trade-in, never introduce the trade until after you negotiate your best deal.

9. Knowing if car will it do the job: Make sure the car, SUV, van or truck you lease will do the job you want it to do for you. Know exactly the standard equipment, optional equipment, special features like four wheel drive, two wheel drive, front wheel drive, miles per gallon rating for both city and highway. A great deal on a car that is not what you need it for is useless. Is the vehicle in stock or will it have to be ordered? What colors are available. Do I have to make any compromises?

10. Picking the right people to do business with: As you can see from all of the above picking the right people to do business with is so very important. Chose someone you can trust, who has a good track record and others have had good experiences with. If you follow the above information you will have a very happy and satisfying leasing experience.

Source by Bob Maurino

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