Auto Lease Vs Buy

Be sure you have a good idea of the number of miles you will be driving per year before considering leasing a vehicle. Most leases limit the number of miles you can drive to a maximum of 15,000 per year. If you go over the limit you could be paying between 10 to 25 cents per mile. You can always negotiate a higher mileage limit before signing the lease contract.

If you put a lot of miles on your vehicle you maybe better off buying a vehicle rather than leasing. Higher mileage lowers the vehicle's trade-in or resale value.

Visit auto lease guide to learn the insider secrets that car dealers don't want you to know about leasing and buying a vehicle.

Many people appreciate the comfort and security of driving a new vehicle. New vehicle manufacturer's warranties are typically 36 months for most vehicles. Most people like to lease for a term that coincides with the length of the manufacturer's warranty coverage so that if something goes wrong with the vehicle the repairs are always covered.

When you buy a vehicle once the warranty is up you are out of pocket for any repairs that are required.

Visit auto lease guide to learn the insider secrets that car dealers don't want you to know about leasing and buying a vehicle.

The short-term monthly cost of leasing is always significantly less than the cost of buying. For the same vehicle, same price, same term, and same down payment, monthly lease payments will always be 30-60% lower than loan payments.

The long-term cost of leasing is typically more than the cost of buying, assuming the buyer keeps the cars after the loan. If long term cost savings is move important to you then driving a new vehicle, it would be best to buy the vehicle and drive it till it dies or until the cost of repairs exceed the cost of replacing the vehicle.

One of the new car purchasing tips you should know is that timing is very important in getting the best deal when you buy or lease a new vehicle. There are times within a month and during a week that are considered the best times to buy or lease a vehicle.

You should go to a car dealer during the middle of the week. This is the time when there are typically fewer people buying vehicles so dealers are available to give you their full attention and they are typically more anxious to close a sale.

The end of the month is a time when sales agents are trying to meet their monthly quota. Dealers will be more open at this time to giving you a deal, in order to make a sale and get to their quota.

Visit auto lease guide to get a copy of the insider secrets that car dealers don't want you to know about leasing and buying a new vehicle.

If you plan to move during your lease term, be aware that some lease contracts may have restrictions. Most prohibit moving their vehicle out of the country. Some even prohibit moving the vehicle out of state. Check the fine print in the lease contract before you sign.