Common Questions to Know if Car Leasing Is Right for You

Those new to car leasing need not feel intimidated anymore as we have listed here some of the most pertinent questions to ask the dealer to determine if you really need to lease a car or not.

  1. The residual value of the car? It is the final cost of the car after the lease is over and it is determined by the leasing company. You must go for cars with a high residual value of at least 45 to 55 % of the original value because the residual value will affect your monthly payment.
  2. What mileage is covered by the lease? The industry standard for this is 12,000 miles a year but not all leases comply. So, if you get a lease with less mileage than you need you will end up paying anything between 15-20 cents per mile.
  3. Enquire the interest rate: Do not be taken in by the cheap van leasing deals with low-interest rates advertised by certain companies because interest rates are often based on your credit score. Normally company quotes interest rate in the form of a decimal number like 0.00125 which you think is too small to pay heed to. But in reality, it has to be multiplied with 2400 to get the percentage of interest.
  4. What are the fees involved? There are certain fees like the security deposits and the fees itself which can be negotiated. If you are able to waive off the security deposit and reduce the fee amount then in your final math you will know which side the balance tips. Remember, until you ask you won’t get.
  5. Can the lease be transferred? At times you don’t want to be stuck to the same model and want some change. Hence, it is paramount that you ask your leasing company if your lease can be transferred to a new owner before time. Nowadays most companies offer this flexibility but you need to be certain it is mentioned in the contract.

Your answers to these questions will help you decide if leasing is right for you.

The Best Ways to Make Your Car Last Longer

A car is a solid investment that can take a chunk out of your salary. Keeping your vehicle up and running means, you can use it for longer, getting the best of your money. Here are the things you should be doing regularly to keep your car in top shape.

Replace rims and tires

Start at the tires when it comes to your car’s health. Depending on the condition your tires and rims are in, the fuel utilization to suspension system, everything can be affected. New tires retain proper grip and maintains your car’s performance.

Clean air filters

The air filter protects the engine from dust and debris. Occasionally pop out the filter from the air box and take it down for a quick cleaning. This way your engine will stay in good shape and perform well for longer.

Oil and filter change

The longer you drive, the engine oil is regulated and circulated over and over which dissipated the mineral purity. When you change oil regularly (per 5000 kms), your engine performs better for longer.

Detail and wash

The exterior of your car can go through much wear and tear. Getting it detailed occasionally will remove any corrosive element like bird poop, calcium and bug tar.

Service cables and spark plugs

When the ignitions system is in the best shape, your car can run longer in all seasons. Spark plugs and distributor cables can be easily worn out and that only means your car must work harder to fire up the engine. Poor quality of service cables and spark plugs also make your car consume more fuel, frequently lose power and cause cylinders to misfire. A high quality ratchet wrench set will come in handy when you need to work on this.