What You Need to Know When You Lease a Car
Leasing a car provides you with a lot of flexibility. Spontaneous road trips are suddenly a possibility. Want drive-thru McDonalds? No problem. A quick drive up and down the highway to clear your head? Sure!
But with that flexibility comes great responsibility. Like all loans, there are costs and expenses associated with your leased car. If you weren’t or aren’t sure about whose responsibility it is to look after a car’s maintenance and upkeep during your lease period, look no further, and don’t say you didn’t know better.
In most cases, lease agreements outline who pays for maintenance and repairs during the loan period. The agreement also usually comes with a manufacturer warranty that covers the duration of the lease, as well as the mileage you’ll be driving in that time.
Commonly, most agreements will have the leasee pay for any excessive fees at the end of the lease. It’s good practice to look over this part of the agreement in detail so that you can double check that the definition of ‘wear and tear’ is reasonable and won’t result in huge additional fees on your part.
As long as you don’t neglect your leased vehicle, and perform the necessary routine maintenance checks, it shouldn’t cost you extra money when the lease ends. Just don’t get caught up in the idea that it’s “not my car, not my problem”. It is your car. While you aren’t technically owning the vehicle, you still are contractually obligated to maintain its performance. If you don’t, this will likely just result in higher costs at the end of the term.
Car maintenance can involve everything from routine things such as oil and filter changes, tire rotations, belt and hose inspections, checking fluid levels, car washes, or acknowledging safety recalls when they occur. Taking your car to the nearest dealership is the best choice if your vehicle ever needs repairs or maintenance, since dealerships know the make and model of your car inside and out and possess the specialized training required to help fix any issues that arise. safety issue addressed.
Ultimately, paying a bit more attention to and giving your leased vehicle the care that it needs during the lease term will help you save time and money. So in the case of any problems or doubt, making an appointment with your nearest dealership, that has knowledge of your particular car, will be your best bet to keeping your car in the best possible shape.