Introduction: Car Leasing Companies and the Best Car Lease Comparison
When it comes to private car leasing, many people simply choose the first option that is available to them. Since they’re not purchasing the car outright, most people think that any lease agreement will do. There are thousands of vehicle leasing companies out there, all of which claim to offer the best lease car specials.
But not all of the best car leasing companies are the same. Taking the time to do a thorough car lease comparison can help you save hundreds of dollars while also getting you into a better, more dependable car. But how do you know where the best place to lease a car actually is?
In this article, AdvisoryHQ will look at why it is important to compare car leasing offers. We will examine the concrete example of business car leasing and how a company car lease can save money through searching for the best car leasing companies out there.
Image source: Pexels
We’ll also explain briefly how to calculate car lease payments before offering a car lease comparison between the best car leasing companies you can find online.
Taking the time to research the different auto leasing companies through the information offered in this article will help facilitate your private car leasing or business car leasing experience.
Why It Is Important to Compare Car Leasing Offers
The best car leasing companies differ substantially from some of the other vehicle leasing companies whose main motivation is to make the most money from their clients. While the cost of leasing a car over time is generally greater than purchasing a car, some people simply can’t afford to take on the several thousand dollars in debt that comes with buying a car.
When you start to compare car leasing offers, however, it is important that you don’t let the salesman know that you´re considering private car leasing or a company car lease. You should always negotiate the purchase price of the car as if you were going to buy it so that the car leasing company gives you a fair estimate of the car’s value.
A car lease comparison from the best car leasing companies can help you compare the manufacturer’s suggested retail price (MSRP) of the car. The lower the MSRP on the car you plan to lease, the lower will be your projected down payment.
It’s also important to compare car leasing offers from a variety of car leasing companies so that you can find the best payment plan that suits your individual financial situation. It is usually best to avoid car leasing companies that offer rock-bottom monthly payments. You’ll end up paying a heavy down payment, and if the car is wrecked or stolen shortly after you begin the lease, you’ll lose the money invested in the down payment and might be left without a car.
According to the Wall Street Journal, “your salesperson may try to push you toward closing the deal by focusing on the relatively low amount you’ll have to pay each month. This, however, will add to the total amount you’ll pay.”
Also, when you compare car leasing offers, make sure that you know the value of the car that you plan to lease. Knowing the value of the car will give you leverage as you negotiate the details of the lease agreement with different auto lease companies. You can research the value of the car you’re planning on leasing from Consumer Reports.
Company Car Lease and Business Car Leasing
Many companies may choose to lease cars for their employees instead of purchasing a number of cars out right. The company can save money up front through a business car leasing deal. Many car leasing companies may offer lease car specials to companies looking to set up a company car lease for several vehicles.
A car lease comparison is essential for any company looking for the best business car leasing deal. Let’s say that one company wanted to lease five vehicles for a six-month period. Many of the less-than-honest car leasing companies out there may very well try and sugarcoat their lease car specials, offering low down payments and affordable monthly payments.
The fine print, however, may have extremely low mileage limitations, and these car leasing companies may be hoping to make extra money from the fine print that they don’t openly disclose.
If the vehicle leasing company that you choose only gives you 1,000 miles a month and charges $0.30 per mile over that limit, your company will probably end up paying several thousand more dollars for your company car lease despite the low monthly payments.
The best car leasing companies, in comparison, will be honest and straightforward with you regarding the terms and conditions of the lease. When you compare car leasing offers, make sure that the auto leasing companies that you’re comparing offer you detailed information on the MSRP of the vehicles you’re going to lease and the terms of your lease.
For example, when doing a car lease comparison, make sure you find out how much you’ll have to pay in penalties for any exterior or interior damage to the car or if minor cosmetic damage is covered by insurance. Furthermore, the best place to lease a car will negotiate fair monthly payments based on the agreed upon price of the car.
How to Calculate Car Lease Payments
Before you set foot on an auto lot, it’s important that you understand how to calculate car lease payments so that you can negotiate fair conditions for your lease. Many vehicle leasing companies may throw around hard-to-understand numbers to try and confuse you. The best car leasing companies, however, will be straightforward with you regarding how they will calculate your car lease payments.
While the math on how to calculate car lease payments may seem difficult, there are a number of car lease payment calculators online that you can find for free and will help you easily calculate what you should be paying. By consulting these online tools before you start your car lease comparison, you will have an idea of the best lease car specials on the market.
One of the best and easiest to use of these online car lease calculators is offered by Leaseguide.com. Once you have an idea of the purchase price of the car, the interest you’ll be charged, and any other costs added to your lease, you can quickly compare car leasing offers from the best car leasing companies out there. Online calculators are an essential tool that will help you find the best place to lease a car.
Car Lease Comparison between the Best Car Leasing Companies
There are thousands of auto leasing companies out there, and the best place to lease a car will depend on how you plan to use the car and what type of lease car specials you can find based on that planned use.
For example, if you will only be driving the car in town, you may be able to find a more favorable lease with low mileage limits when you compare car leasing offers. Below, you’ll find some of the best car leasing companies on the Internet to get you started on your car lease comparison.
Best Place to Lease a Car: Edmunds.com
The folks at Edmunds.com offer detailed information about lease car specials around $199 dollars per month. If you’re on a tight budget and want to compare car leasing offers around that coveted $199 price tag, this website is worth checking out.
While Edmunds offers a car lease comparison for the lowest prices for a car lease in some of the largest cities of the United States, they also advise that “these premium deals are generally available only to customers with sterling credit ratings. There might be other programs for those with lower credit scores. And when you’re leasing, remember that these monthly payments do not include sales tax and other fees.”
For example, the best car leasing companies as reviewed by Edmunds is currently offering a 2017 Acura for anywhere between $199 and $236 per month for a 36-month lease.
The car lease comparison offered by this website, however, mostly considers deals found in the major metropolitan areas of the United States.
Place to Lease a Car: U.S. News
Another great website to help you compare car leasing offers is offered by U.S. News. You do a thorough car lease comparison based on the different make and model of the car you’re wanting to lease.
Image source: Pexels
This website also asks for your zip code, which means that you’ll be able to find the best place to lease a car near where you live. While this website obviously won’t be able to compare car leasing offers from every car leasing company in your area, it will help you get an idea of the competitive prices offered locally. This can help you gain leverage in negotiating a lease deal when you are searching for the best place to lease a car.
For example, if you live in Kentucky (not exactly known for its major metropolitan areas) and wanted to lease an Acura IlX, the U.S. News website provides you with the estimated MSRP of $27,000 and connects you with dealers in the area who offer this car for private car leasing or business car leasing.
Best Place to Lease a Car: LeaseCompare.com
Leasecompare.com is another website that can help you with your car lease comparison and help you find the best place to lease a car. This website also asks for your zip code and the details regarding the car you want to lease to help you compare car leasing offers in your area.
You can also apply online for a fast credit decision through this website. If you want to research the possibility of leasing a luxury car such as a Bentley, Lamborghini, Ferrari, or another specialty car, this website will also offer you a car lease comparison amongst the best car leasing companies for luxury cars.
Best Place to Lease a Car: LeaseTrader.com
Another way to lease a car is through taking over the lease of someone who wants to get out of the lease contract that they are currently under. Leasetrader.com is a website that connects sellers and buyers. If you’re wanting to lease a car but don’t want the hassle of negotiating a lease deal with a dealership, you can simply take over the lease of someone else.
Leasetrader.com is a powerful online tool where you can compare car leasing deals that thousands of people are wanting to get out of. Situations can change quickly, and many people want to get out of a lease deal that they only recently signed up for.
You can easily do a car lease comparison on these deals and might be able to find more favorable lease terms this way. In fact, many of the lease car specials found on this website offer $0 down payment and competitive monthly payments.
Why Searching for the Best Auto Leasing Companies Can Save You Major Cash
The best car leasing companies are out there if you take the time to look for them. Instead of simply signing up for the first lease offered to you by any dealership, researching online can help you find the best place to lease a car in your area.
Furthermore, when you compare car leasing offers, you will also be able to find the best current rates on the market to help you gain the upper hand when negotiating your lease contract.
AdvisoryHQ (AHQ) Disclaimer:
Reasonable efforts have been made by AdvisoryHQ to present accurate information, however all info is presented without warranty. Review AdvisoryHQ’s Terms for details. Also review each firm’s site for the most updated data, rates and info.
Note: Firms and products, including the one(s) reviewed above, may be AdvisoryHQ's affiliates. Click to view AdvisoryHQ's advertiser disclosures.