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What To Know Before Leasing A Car

Consumers may find that auto dealers have been launching a series of interesting campaigns to make leasing especially attractive to those who believe they will spend much more in the long run if they buy a vehicle.

Reports indicate that because the cost of a lease is based on the residual value of the model, the cost tends to be much lower. Experts say that the value is based on the difference between what the car is worth now and what it is expected to be worth as soon as the driver returns the vehicle to the dealer. If the vehicle is expected to maintain its primary value, the consumer will pay less to lease it.

Drivers are urged to learn more about how they can negotiate a lease offer by understanding that the number that determines the potential interest rate can be modified. Experts say that due to the fact that the rates are now low, consumers are not encouraged to put more money down in order to get a price break down the road.

While shopping for lease terms, remember that a long-term lease can end up costing more to you in the long run. Automakers like Toyota have longer lease terms, which could be costly because most warranties only last three years.

As an attorney, I understand that you may have struggled with a lemon before and you may feel like now is the time for you to lease a vehicle instead of purchasing one. I urge you to do your research beforehand and think all things through before setting your mind on a deal.

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About the Author
The Vachon Law Firm is based in Southern California and focuses exclusively on consumer protection litigation.