The Hidden Costs of Car Leases.

May 17, 2012 - PRLog -- Be honest- are you one of those people who fair loves new cars? I am familiar with it. That’s OK; we are in the similar boat. I love new cars just as much as you do. But I like not overpaying just as much if not more than you do. That’s why, when it comes to car leases, I make sure and actually get to know my choices and whether I should be leasing or buying my vehicles. As I’ve learned (the hard way) a few times, there are all sorts of hidden costs complicated in leasing a new car. And they aren’t what you think they are. Let’s look at a few of them.
1) The monthly lease payment. Did you know that there are unscrupulous car dealers out there who will instinctively rip you off if you let them? That’s right. And your continuing payment might have been randomly made up by one of these dealers on the spot just by looking at you and determining how much money they should charge you. Make sure and question everything on the lease form and ask in seriousness questions as to why you should be paying what you are. The fine print can be your friend, use it against the car dealer to negotiate a better deal anywhere else.
2) Keep an eye on your mileage. This is a giant. Lots of people get encouraged by the idea of a lease and its low payments. Conversely, these same people are living the high life up to the day comes when they have to finally return their vehicle. This is the day of reckoning because they get charge for overage miles. It’s not a handsome site and it can seriously damage your bank account. If you lease your car, confirm your mileage doesn’t exceed its limit.
3) The lack of equity. When you purchase a car, you own it (or the bank owns the note on it). You don’t dimensions equity with a car lease. Your car is mainly being rented. Compare the equity costs and gains before deciding on a least.
There are a lot of other hidden costs involved in car leases that make points #1-3 look small by evaluation. Study all about them.

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