Factors to consider before leasing a car

Factors to consider before leasing a car

You want to lease a car, but you don’t know much about leasing which means you wouldn’t even know what to inquire from a dealer or the factors that you need to consider. Don’t beat yourself up. There are many things involved in a lease agreement, but only a few of these are relevant to the price. If you have enough information to make meaningful inquiries, then you can be able to get a great deal. Below are the factors you need to consider before leasing a car.

Lease specials

Lots of makers from time to time lease cars at prices that are discounted. They do this to get more interest for the models that don’t sell quickly. You can save yourself a lot of money if you keep track of these specials.

The residual value of the car

The worth of the car after the lease has ended is what we refer to as residual value. Generally, the higher the residual value, the better the deal will be. Essentially, leasing a car is paying for the value that you will use over the course of whatever period you are leasing it for. I will give an example of you leasing a 30,000 dollar car for three years. If the worth of this car at the end of the three years is 18,000 dollars, the value of the car that you used is 12,000 dollars. To get the amount you will pay monthly, divide 12,000 dollars by the number of months in 3 years which is 36. This will give you approximately 333 dollars.

Interest rates

Your interest rates are a significant factor to consider when leasing a car. This is a negotiable factor in a lease agreement. The dealers, however, use credit scores to determine interest rates so make sure you get the interest rate that you deserve if you have a good credit score.

The number of miles included in the lease

The number of miles included in the lease annually is a factor that you need to be aware of before leasing a car. In many instances, you could find a fantastic lease deal, but then upon inquiry, you realize that the deal includes only an annual mileage of 10,000 miles. The set standards by the industry are at least 12000 miles annually. Make sure you are not in for a surprise in the long run because you will be charged an extra percentage for a number of miles that you exceed.…

Tips for hiring a mechanic

Tips for hiring a mechanic

Owning a car is a good thing but maintaining it is another. There will be a point in time where you will need your vehicle to be repaired or to undergo some maintenance. You can’t trust any mechanic with the responsibility of fixing your car. You need to make sure that your car is in the right hands. The process of finding a good mechanic can be overwhelming more so if it is your first time. To get you started, below are a few tips to hiring a mechanic.

Referrals

Asking for referrals is by far one of the most important things to do when looking for a mechanic for your car. Referrals can come from your family and friends who have had their cars repaired before by different mechanics. Make sure that mechanic you are being referred to has worked on their cars before. It is the only way to know the kind of job that they are going to do on your car. If you aren’t satisfied with referrals, search the internet for lists of the most credible mechanics in your area.

Engage the mechanic

It is important for you to engage the mechanic in a conversation about how they intend to fix your car. You can interview them just to see how knowledgeable they are. Even if they have already started working on your car, make sure you get enough explanations from them. Do not be scared. Ask as many questions as you can. Let them tell you the cause of the problem and the right way to fix it before you trust them with the responsibility of repairing your car. While on this discussion, having an understanding about their prices and how much they charge for parts that need to be replaced is also important.

Compare the information you get

It is advisable that you don’t just go to one mechanic. Interview several of them and collect enough information about your car and what needs to be done to it to repair it. Once you compare this information, it will not be that difficult for you to decide the kind of mechanic that you are willing to trust to repair it.

Warranty

Any good mechanic who is reputable will be willing to give you a warranty. This warranty can be for labor or for parts that need to be replaced. Usually. The warranties go from 1-3 months. Ensure that you ask for a record of the work they have done before.…