On the surface a car lease agreement may appear very complicated with its dozens of clauses and fees. Finding the best car lease in Plainfield is not all that difficult once you know what to look for. There are a few ways you can identify the best lease.
Residual value: The residual value of the vehicle is its value at the end of the lease term; this value is normally established by the bank or the leasing company that is the other party to the contract.
The residual value specified directly impacts the monthly payment; the higher the residual value, the lower the monthly payment. Often this allows the shopper to upgrade the vehicle.
A simple example; if a consumer wishes to lease a $35,000 vehicle for three years, on average the residual value will be half, or $17,500. This equates to $486 a month plus various fees. If the same car has a residual value of 60 percent rather than 50 it will be $14,000 which equates to $390 a month, once again, plus fees. If you are comfortable with paying $486 a month you can drive a more expensive car.
Low fees: Fees such as the security deposit, acquisition and disposal fees vary from one leasing company to the next. The wise consumer will attempt to get these fees reduced or waived. You can often get the security deposit waived but you have to ask.
Customer retention: When you are looking for the best car lease in Plainfield pay attention to how well the leasing company holds on to their customers. The lower the retention rate, the more clients that were dissatisfied with the way the lease was structured or the fees.
Along with the interest rate, the residual value, the fee structure and the customer retention rate are the key factors behind the best car lease in Plainfield.
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