Leasing an Infiniti gives you access to luxury without the long-term commitment. However, understanding the process and terms will help you save time and money. Here are the essential leasing tips you should keep in mind before signing a lease in Winston-Salem.
Understanding Leasing Terms and Conditions
Leasing involves agreeing to use a vehicle for a set period (usually 24–36 months) and mileage limit in exchange for monthly payments. At the end of the lease, you can return the car, renew the lease, or sometimes buy it outright. Ensure you read the lease terms carefully to understand any restrictions, such as early termination fees or excess wear-and-tear charges.
Leasing vs. Financing: What’s the Difference?
Leasing versus financing: The biggest difference is ownership. When you lease, you pay for the depreciation over the lease term, which typically means lower payments. However, you don't own the car. Leasing works well if you like new cars or prefer lower monthly payments.
Avoid These Common Leasing Pitfalls
One of the most common leasing mistakes is failing to understand your mileage limits. Exceeding them can result in expensive penalties. Be sure to negotiate a reasonable mileage limit based on your driving habits. Additionally, watch out for unnecessary add-ons that can increase your monthly payments without offering substantial value.
What You Need to Know About Residual Value and Mileage Limits
The residual value of a leased car is its estimated value at the lease's end. A higher residual value can lower your monthly payments. Mileage limits usually range from 10,000 to 15,000 miles per year, though you can negotiate for a higher limit if needed. Remember, going over the limit could incur extra fees.
Steps to Secure the Best Lease Deal
Get the best lease deal by researching current offers and understanding the terms. Check your credit score, as a better score can lower your rates. Negotiate your down payment and mileage allowance, and try to time your lease with special offers. Our team at Modern Infiniti of Winston-Salem can guide you through the process.
Looking for Leasing Help? Visit Modern Infiniti of Winston-Salem
At Modern Infiniti of Winston-Salem, we’re ready to help you every step of the way when leasing your Infiniti. Our experts are here to make the process seamless and easy. Visit us today to check out our lease specials and receive professional leasing guidance.
