Leasing a Car
<h1> Some imperative facts in leasing a car </h1>
Written By Fred Patrick
<img src="http://www.briggsauto.com/blog/wp-content/uploads/2013/09/buying-or-leasing-benefits-kansas.jpg" alt="Car dealerships in Houston " height="300" width="300">
Leasing is a common term used when acquiring a car. In contrary to leasing, there is financing but there is a major difference in these two. In this article, we will discuss some important facts about car leasing. Here you go:
When a person lease a car, he will have to pay a definite amount on monthly basis and then at the end of the leasing period, the car will be the ownership of the dealer. However, the person can also acquire ownership at the end if he wishes to do so. On the other hand, in financing, we have to pay a higher amount per month in comparison to leasing. In addition to this, we become the owner after all payments of the car have been cleared. There are mainly two types of leases; one is close ended lease agreement while the other is open ended. In the latter one, we have to pay the difference amount between the actual market value and the residual value. This residual value is projected. Today, people prefer close ended agreements and open ended are not offered on a larger scale.
In the close end lease agreement, you can easily shift to a new lease agreement if you do not want to buy the car. Besides this, there are some other conditions for leasing a car such as a better credit score and availability of all documents. In addition to this, try going for a lease that has a high down payment, otherwise you will have to bear a high rate of interest. In general, there are a specified number of miles, which a person is allowed to drive in leasing. After that, there will be extra mileage charges. Most dealers allow 15,000 miles for a year. However, you can negotiate these terms with your dealer. Some other terms and conditions of leasing a car vary from one dealer to another. For this, you need to search around the reliable dealer with easy policies.
<a href="http://www.mifamiliaautos.com/">Car dealerships in Houston</a> also assist in providing cars on lease as well as on finance. You can search the Houston dealerships policies online or can talk with the company’s representative. Besides this, there is also a facility of <a href="http://www.mifamiliaautos.com/">2nd chance auto loans</a> for those who do not have a good credit history to lease a car. Leasing a car is popular in these days. Search for your favorite model and get it leased right away!