You've got your eye on your dream car for this winter, but you don't quite have the money for a lump sum payment in your pocket here and now.
Shame. But it doesn't have to be a deal breaker.
Leasing can help you spread the cost of a car over a longer period of time, so you can 'pay as you go'. You don't end up owning the car, so you might think of it as a long-term rental agreement.
With low monthly payments, cheap car lease deals can be really affordable. But you need to know you're getting the very best deal. Here are 7 tips to get you on the road.
1. Check the Processing Fee
It's normal to find a processing, or set-up fee, attached to your lease.
Be sure you're not paying over the odds by checking around various brokers to make sure you're paying a competitive processing fee.
2. Is There a Deposit to Pay?
Most lease deals require you to pay a deposit for your car, which will add to the total cost of the lease.
It's fair enough, but you should know that it's also possible to get no deposit deals through some brokers (like us).
If you can avoid parting with a big lump sum today, you'll have it to spend on other things - perhaps adding a few more extras to your new car.
3. Act Quickly
Promotions come and go fast, so you need to keep your eyes peeled for the best deals. The number of leases available on special offer are probably limited, so don't miss out.
Also remember to look out for seasonal events like Black Friday too, to see if you can get a better price than normal.
Of course, if you're already on a lease and you're scouting around for cheap car lease deals, you should also look out for marketing from your broker - to see what they can offer you.
4. Get Help From a Broker
A good broker scours the market for you to find the cheapest lease deals.
They're a brilliant to have on your side while you're searching, as you don't have to worry so much about missing out on a better deal.
At Genus Leasing, we share the details of thousands of leasing deals, so you can be sure you're getting a fair price. And you can easily see how, by stretching or cutting back on your budget, you're affecting the different cars that are up for grabs.
5. What's the Length of Your Lease?
As well as thinking about upfront costs like fees, and how much you'll pay for any deposit, you need to think about the value you'll get for that price.
Make sure you're getting real value from leasing by thinking about the length of the lease. If you're on a longer term, you're spending more money on a car that's aging - but if you pick a shorter term, you can move onto a new car in as few as two years.
Just remember to compare like for like, by checking leases of the same length against each other.
6. Look at All the Added Extras
With a lease, you know how much you'll pay each month - but the advertised price might not be all it seems. This is a particular issue when you lease directly from a dealer, rather than going through a broker first.
Make sure they aren't trying to tag on any sneaky little extras that you don't really want or need, and let them know that you're not interested.
Or just use a broker.
7. Think About Insurance
As you probably know, third party car insurance is mandatory in the UK for all drivers. But for leased cars, you must have comprehensive insurance. This type of insurance covers the leased car, meaning you're not on the hook for repairs.
Consider taking out a leasing deal that covers you from start to finish and avoid the hassle of finding it yourself each year. Check out our TOTAL CARE leases, which include insurance and servicing as part of the monthly cost - for total peace of mind.
But if you decide to shop for your own car insurance, read the policy documents carefully alongside your lease to understand what's covered, and what's not.
Find Cheap Car Lease Deals Today
Now you know how to avoid pitfalls and get yourself the best deal, it's time to go shopping.
Set yourself up with one of the hundreds of cheap car lease deals available through Genus Leasing. Whether it's for business or personal car lease deals, we can help find you a great deal on your next car.
If you have any questions about the leasing process, want to know what to expect, or are curious
* All vehicle images and car descriptions on this site are for illustration and reference purposes only and are not necessarily an accurate representation of the vehicle on offer.
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