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New Lease Car Buying Guide

These days going to new car dealers and buying a new car on a lease agreement is gaining popularity. Car leasing offers you the opportunity to own an absolutely new car from any of the new car dealers, without having to pay the full amount for outright purchase of the car.

New Lease Car Buying Guide

One of the main advantages of purchasing a new car on one of these leasing schemes is that your installment payments are spread over a fixed period of time while you drive off with your much-coveted new car. New car dealers can also arrange the service schedule in such a way that you need to pay minimum maintenance charges.

There are many new car dealers who would lease you a new car over the Internet. The increasing popularity of Internet buying has led to The Distance Selling Act being introduced to protect anybody who buys goods over the Internet. Even if you plan on leasing a car from a site on the Internet, make sure the new car dealers full contact details including phone number, postal address and fax number are clearly mentioned so you could contact someone if you have any problems in the future. Use all the resources available on the Internet to your advantage and compare prices and promotions offered by various new car dealers. Read through all the fine print and ensure that no hidden costs are buried in the terms and conditions. Call a representative and get all your doubts clarified, find out if Vat is excluded or included in the costs. If you are unhappy with the replies you get strike those new car dealers off your list and move on.

Some of the advantages of a new lease car include a full manufacturers warranty, getting to own a brand new vehicle, latest features, your choice of color and specification, low initial payment, accident free and mechanically sound, better safety features and the option to trade in or return the car at the end of the lease term.

The disadvantages of a new lease car include higher cost compared to a used model, higher insurance premiums, high initial depreciation, high cost of early termination, potential high cost of exceeding annual mileage agreement and monetary penalty for any damage done to the vehicle during the lease period.

It is advisable not to lease a new car if you do not have a regular income and are not sure if you will be able to make the monthly payments or if you expect to get a company car soon and are unsure for what duration you would need a car. Other reasons you should not go in for a new lease car are if you tend to have a high annual mileage and you hate the idea of owning money or being in debt.

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