Understanding Car Leasing Companies and What They Offer

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November 9, 2016

Car leasing companies are different than car loan lenders, and there are more things they can offer you. Here's what you should know about what a car leasing company can do for you.

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Lease Comparison

You can find many websites that will compare lease offers and terms for you. All you need is to know what type of car you are looking for, or what kind of budget you want to stick to. Just like many sites that are built to find the best loan rates, these sites will take your information and notify you when a lease is available with what you require.

Lease Takeovers

A lease takeover is a great way to save money on a lease. You can also use this option for shorter term leases if you desire. A car leasing company can match you with people who want to get out of their leases. This works to your advantage because you can find great deals with this option. With a lease takeover you need to be more flexible with the type of car you want. You may not be able to find the exact model you want, but you can probably find your second or third choice at an unbelievable price.

Getting out of a Lease

If you are in a lease that is not favorable now for whatever reason, a car leasing company can help you get out of the lease. Just like with the takeovers, the car leasing company can match you with people who are looking for short term leases. The leasing company will work with both parties to get the lease transferred over. Be cautious when using websites to do this, as many of them charge fees to advertise your car, as well as transfer fees.

Short Term Leases

Most leases are written for a term anywhere from 24 to 60 months. There may be a reason you might want a shorter term lease. A leasing company can help you find short term leases to help you out.

Commercial Leases

If you run a business that requires the use of company vehicles, leases are usually your best option. This way you can always have a current fleet of cars that are all under warranty. A leasing company can help you get the fleet you need set up and work through the terms that your company requires.

Things the Lease Company May Not Offer

A lease is usually negotiable. The negotiable aspect of the lease is the price of the car. That will almost always need to be negotiated before you find an independent lease company. These companies don't have the time or desire to negotiate the price of a car on your behalf. You can have better luck if you do this yourself.

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