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We all like to get value for money, and with our spending habits changing all the time in a post-Covid 19 world, there has never been a greater time to make your money work harder for you.
One of the many car leasing benefits is the flexibility you have to tailor your lease term to suit your exact needs.
It’s important that you do this honestly and accurately to avoid any unexpected costs in the future.
Consider following some of these helpful tips at the start of your car lease to save money over the duration of your term.
No deposit lease deals
Considering a no deposit car lease deal is a fantastic option if you don’t want to be committing to large upfront payments at the beginning of your term.
You have the option to put down the equivalent of between one and nine months payment. By choosing the smallest initial rental, you don’t have to face the big outlay of money straight away.
The sum of money you put down at the beginning of your term as your initial rental will determine your monthly payment. The higher your initial rental, the lower your monthly payment and vice-versa.
Explore the different options available to you, as the lower initial rental can still result in a very competitive monthly payment, with the discrepancy between them not always as high as you might expect.
Add maintenance at the start of your lease
Car lease deals often come with an optional maintenance package that runs alongside your monthly payment.
At face value, car lease maintenance packages can seem like another unnecessary cost on top of your pre-existing monthly outgoings, but they can prove to be excellent value for money.
By paying a fixed fee every month for the maintenance of your vehicle, you can say goodbye to those unexpected – and often hefty – bills when the time comes to take your car in for its annual service.
All scheduled services, MOTs, perishable items and even tyre replacements are typically covered within your maintenance package. It’s another small monthly payment that could benefit you in the long term.
Choose your mileage sensibly
It’s important to provide an accurate representation of the miles you plan to cover in your lease vehicle.
Annual mileage limits can range from 5,000 all the way up to 30,000, with different increments in between.
Estimate your miles by considering both your annual commuting time, but also accounting for enough leisure time outside of work.
Your monthly payment will reflect your annual mileage limit – the higher the mileage, the higher the payment is likely to be.
If you don’t allow for enough miles, you run the risk of mileage penalties at the end of your lease term. These could (depending on how far you exceed your limit) be greater than the difference of what your monthly payment would’ve been by choosing the higher mileage limit option.
Just like the initial rental, the difference in price between mileage options can often be smaller than you think – so explore the different limits available, but make sure you don’t leave yourself short at the end of your term.
Check in-stock vehicles
In the post-Covid-19 car market, manufacturers around the world are facing a wide range of problems when it comes to securing stock.
A global semiconductor chip shortage has resulted in some car parts being temporarily or permanently unavailable on new cars.
Different manufacturers are being affected in different ways, so it is important to check this when you’re searching for a new car.
You can save both time and money by enquiring about vehicles that are already in stock, built and ready to go.
This will help you avoid long delays while ensuring you don’t go without key components in your next car lease.
Whether you’re searching for an Audi lease deal, a Tesla lease or something completely different Carparison have a wide range of fantastic offers to suit your every need. Contact their leasing experts at www.carparisonleasing.co.uk for more information.
