If you have ever decided to lease a vehicle, you probably understand that the process can be quite complicated. We are determined to change that. We strive to streamline the leasing process and make it as simple and straightforward as possible. As a result, our clients experience less hassle and a positive outcome.
We achieve this by handling all of the work and research for you. We have an extensive network of dealerships that lease vehicles throughout the Los Angeles area that offer competitive pricing exclusively to all of our clients.
What Makes Us Unique
We are a thoughtfully designed platform that connects our customers to local brokers and dealers that offer low rates without compromising quality. We proudly offer timely home delivery to save you time and hassle.
Dreaming of a certain car? We promise to do our best to find you the particular type of vehicle that you have been hoping for. To take it further yet, we also aim to provide the most competitive pricing possible. We do this by requesting bids from several brokers and dealers on your behalf. Regardless of your budget, we do our best to offer you a variety of offers to fit your situation.
Our streamlined, simplified approach cuts down on the amount of time you spend on the leasing process. We handle any negotiations, bid requests, and research. This equates to reduced frustration and stress for our clients.
Understanding How a Vehicle Lease Works
Many people believe leasing a vehicle involves renting the car for several years. Although this is not entirely correct, it does provide a good starting point for understanding the process.
Here is a quick breakdown of the lease process: A lessee (the customer looking to lease the vehicle) pays money to the lessor (the broker or dealer) in return for the ability to drive the vehicle. This lease is set up to be in effect for a particular period of time.
The lease agreement outlines specific terms and conditions to describe what will take place during the lease period between you and the lessor.
These details include the number of miles you are allowed to drive within a one year period and steps for adjusting this limit (and the amount of the lease) if needed. Lease payments help cover the standard depreciation that occurs as the car gets older. The end result is a situation that benefits both yourself and the broker or dealer that our platform helps you find.
What Are a Few of the Advantages of Leasing a Vehicle?
People choose to lease cars for a wide range of reasons. One of the biggest advantages involves general expenses. Leasing is also more affordable than buying the same exact vehicle. While pricing on new vehicles continues to increase with each year, leasing enables you to drive a brand new car without covering the high cost.
Leasing is also easier on the budget since it generally involves a reduced down payment. Rather than a high car payment each month, you can drive a new vehicle for a lower monthly payment. Many people enjoy having this money freed up for more important needs.
No maintenance hassle is another main perk of entering into a lease agreement. Although the lessee is still responsible for the basic needs, the majority of lease agreements expire prior to the warranty on the vehicle expires. This reduces the possibility of needing to cover the cost of a major repair.
Some people find it advantageous to lease cars because it allows them to drive a new vehicle every couple of years. This is a much higher turnaround than ownership which usually equates to driving the same car for at least six or seven years. Leasing allows you to enjoy driving something new without needing to deal with selling it when you want to get rid of it.
Important Details to Know When Leasing a Car
We will walk you through each step of the lease process and help you understand several key areas:
The Importance of the Sale Price of the Vehicle: Your monthly payment is based directly on the set price for the make and model you choose. The smaller the sales price, the smaller your monthly payments.
Understanding Residual Percentage: What your vehicle is currently valued and what it will be worth in the future determines the residual percentage. We will explain how vehicles with higher residual percentages indicate slower rates of depreciation. This will help you find options that include lower monthly payments.
Mileage Allowance: Each lease agreement sets a specific annual mileage allowance. If you stay within the set miles, you will not be charged any additional fees. This is crucial because any miles over the limit are charged at a per-mile rate. We will assist you in calculating the number of miles you normally drive in a month and help you understand what will happen if you go over the mileage limit.
Understanding That Clause About a Disposition Fee: Upon the end of a lease term, the lessor must prepare the vehicle to be sold or leased to a new client. The disposition fee covers this expense. Typically, this fee is around $300 to $500. It is unlikely to get a lease without this fee.
The Definition of Money Factor: Money factor is basically another way of referring to the annual percentage rate (APR). Your goal should be locking in the lowest amount possible as this will save you money.
Buying a Car vs. Leasing
The fact that you are checking out our site indicates that you may be searching for a Los Angeles car lease. We are eager to help but it is important to explain some of the key difference between purchasing a vehicle vs leasing it. Since our ultimate goal is to make sure you have a positive experience, we know that having the appropriate information will assist you in making the best choice. Our experienced team is dedicated to providing you with clear information regarding leasing a vehicle in Los Angeles so you know what to expect.
Who Owns the Vehicle?
Whether you pay cash or use financing, purchasing a car means you are the owner. If you financed the car, you must stay up to date on your payments to maintain ownership. People who sign lease agreements do not own the car (the dealer does). The fact that you are not the owner of the car is what allows your monthly payments to be lower.
Assessing the Initial Costs
Financing a new car requires some type of down payment, whether in the form of cash or equity from a vehicle your trade in. For certain buyers, it may be both. Your credit score and the lender’s requirements will determine the specific amount you must put down.
The process of leasing a car is much simpler. Upon signing the lease, you are responsible for a reasonable security deposit, the first monthly payment, the acquisition fee, and any necessary taxes and fees that are outlined in the terms and conditions of the lease. Paying more up front will equate to lower monthly payments.
The Future Value of the Car
Buying a car usually means it will eventually be sold. When you decide to sell it, it is only worth what someone is willing to pay for it. The price will be based on factors such as the make and model and how well you maintained the vehicle.
When you choose to lease rather than buy, you do not need to be concerned about the future worth of the car. You will be able to return the car upon the expiration of the lease and set up a new lease if desired.
If you took out a loan to purchase a car, you will acquire the title once the loan has been completely paid. Upon receiving the title, you have proof of ownership of the vehicle. This enables you to do anything you want to without needing permission from another person or entity.
Once a lease term is over, you can return the car and begin the process again if desired. If the term is up but you still wish to keep the car, most leases include clauses that allow you to move forward with a final purchase.