In the modern day, it is quite challenging living without a car as it helps you to move around to attend to your duties. Life, especially in Brooklyn is more convenient when you have a car than when you don’t have one. The good thing is that you don’t have to break the bank to have a car at your disposal. With only a small deposit and low monthly payments, you can lease a car of your choice from one of the many car rentals in Brooklyn.
A car lease allows you to drive the vehicle of your choice without paying a large sum of money or taking a loan. To lease a car in Brooklyn, you simply need to make a small down payment, typically less than 20 percent of what you would pay if you were to buy the car. It is then followed by small monthly payments covering the duration of the lease.
When the lease period expires, you can either choose to return the car to the leasing company or still renew the lease contract. Novated lease contract gives you the option to own the car by making the agreed monthly payments to the leasing company. You can as well upgrade to another car model once the lease contract expires.
Benefits of car leasing over buying
If you decide to lease a car of your choice, you are allowed to make small monthly payments as opposed to when you purchase the car. Car leases are most beneficial especially when you have significant financial commitments such as a mortgage, and you can’t afford to buy a car upfront. With a car lease, you have the opportunity to drive a new car after a year. You won’t have any problem trading in the car once the contract expires. Another great thing with leasing a car is that you only pay sales tax depending on the vehicle that you are financing.
When to consider leasing a car in Brooklyn
Here are some indicators that you need to lease car
• When you don’t have the upfront cash to purchase the car.
• When you want to drive a luxurious car that is out of your price range.
• If you know that you will follow the lease agreement to the letter. Violating the lease agreement such as when you default payments or exceed the agreed mileage can lead to substantial penalties.
• When you know that you can take good care of the car’s interior and exterior while paying particular attention to avoid spills on the seats, nicks and other cosmetic damages to the vehicle.
How to lease a car in Brooklyn
Choose the most suitable car type and model
The cost of leasing a car depends on the type and model. Sports cars and SUVs cost more while the standard cars will cost less. It will also cost you more to lease the newest model than an older car model. The most important thing here is to make a list of cars that fall within your budget. Then choose car models that have a favorable gas mileage, top safety features, high dependability, and low insurance premiums.
Take a test drive
Once you have narrowed down your list to a few car models, the next step is to take each car for a test drive. You need to pay particular attention to various aspects such as comfort, braking, visibility, steering, shock absorption and internal noise.
Inquire about the safety features
It is important to inquire whether the car comes with anti-lock brake systems (ABS), head-protecting side airbags, and electronic stability control. These are some of the most valuable safety features that your car should have.
Compare the lease deals
Once you identify the car that you would like to lease, sit down and calculate the lease deals on offer and see how much you can afford to pay on a monthly basis. It is always important to come up with a figure that you can afford to pay without a lot of hustle.
Negotiate the price
It is a critical step of closing a car lease deal. Your negotiation skills will determine the amount of money you will be required to pay every month to the dealer. Before you engage negotiations, you can carry out a simple research of the car cost from various platforms such as the Consumer Reports. It will give you a rough idea of what you need pay for the vehicle on a monthly basis.
The final cost will be based on the amount that you and the leasing company agree on in your contract. However, the price will mostly fall at some point between the manufacturer’s recommended retail price and the dealer’s wholesale price. Once you agree on the amount, you can now pay the down payment and sign a legally binding contract.