Online Vehicle Leasing Mishaps to Avoid

Before you consider an online vehicle leasing there are some things to consider before you sign on the dotted line.

Below are a few online vehicle leasing mishaps that you Can Avoid

Paying Too Much Cash Up Front

Car dealers are notorious for advertising low lease payments on new vehicles. However, potential leasers are usually told they need to pay thousands of dollars to get the low payments.

Remember, that down payment is usually used to pay part of the vehicle lease in advance. Eminent online car leasing explains that prepaying could be a problem if you are SUV, truck, car or van is stolen or totaled within the first few months of the lease. Unfortunately, you would not get your down payment back even though the insurance company would reimburse the leasing company. As a result, you would have paid a lot of cash up front without a car.

Gap Insurance for Online Vehicle Leasing

Most consumers forget that the value of a vehicle will drop the minute it is taken off the lot. Leased cars are certainly no exception. If a leased car is wrecked or stolen, the insurance company may not cover the total cost of the vehicle under the lease terms. You would be responsible for the balance unless you purchased gap insurance. Make sure that you ask the car leasing company about specialty gap coverage.

Underestimate Mileage

Many leasing companies advertise low payments, but most don’t tell you about the fine print. Most contracts list a maximum of 10 to 15,000 miles a year. If you drive over the limit, you will be charged a whopping 10 to 30 cents each mile when the lease contract expires.

Lease for Too Long

Most online vehicle leasing terms will range between two and four years. While some can go longer, you will end up paying more money for maintenance. Never lease a car for longer than the warranty. Most are 36,000 miles or three years, which is when the bumper-to-bumper warranty runs out.

If you are interesting in online vehicle leasing talk to the experts from Eminent Online Auto Leasing today.

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