Car leases that come with special offers are now recognized as the easiest way to own the coolest rides in the market. It may be difficult, however, to determine which of the numerous car lease specials are worth taking. So how do you land a good car lease special offered by customer-oriented Indianapolis auto dealers?
Down payment
First of all, you need to find out whether a down payment is required. A down payment is usually a substantial percentage of the total cost paid upfront as a lump. A down payment reduces the amount you pay monthly; but if the car gets damaged or stolen, your insurance and gap cost will not cover your existing loss. So, as much as possible, choose a lease that doesn’t require a down payment.
Mileage limit
A good car lease special will have a mileage limit that works for you. Many leasing companies only provide a 10,000 to 15,000 mile limit per year, which is an amount that is very difficult to stay within. Even people who work from home can easily reach such numbers in a year. You best be forewarned: some unscrupulous dealers may try to trick you into a low-cost lease with a ridiculously low mileage limit.
Once you exceed the limit, car lease companies, here in the capital of Indiana State, may charge you as much as 25 cents per excess mile. By the end of the lease, you’ll have probably accumulated excess miles amounting to thousands of dollars. Therefore, if you’re a high-mileage driver – meaning you drive 18,000 miles per year or more – you’re better off buying the car than leasing it.
Tax advantages
If you plan to use your car mainly for business purposes, you may be able to write the entire lease amount off in your taxes. This is definitely better compared to writing off just the interest on a new car loan. However, government tax regulations are constantly evolving; so consult a tax professional about the tax advantages you can get from leasing a car.
Finally, the best way to know you’re getting a good deal on a car lease is to go only to reputable dealers. These types of dealers can be trusted to look after your welfare as if it were their own. For the best car lease specials, visit reputable Indianapolis car dealers such as Ray Skillman West Side Auto Mall.
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