Car Lease Extension

Published: 02nd June 2011
Views: N/A

If you're pleased with the vehicle you have leased earlier, you may be thinking about an automobile lease extension. But I have to tell you that the cost can prove to be more expensive than should you decide to lease another car (a minimum of the long term cost). The extension of a lease usually involves paying some fees and achieving to pay some other penalties as well is yet another problem you'll have to face. Another concern is represented by the term from the extension, because you may be interested in a short amount a period and not in an actual renewal of your current leasing agreement.

Should you still are curious about a car lease extension, then you should to begin with browse the contract of the current leasing agreement. Thatís because almost each contract has special stipulations regarding the extension of the car lease, stipulations that could also state the fees that are involved with this option. If you are unable to find a clause that describes this issue you'll just have to negotiate the terms using the leasing company and ask one of their agents to provide you with all of the necessary details.

The next step involves taking a look at your maintenance and payment records. If those records are close to perfection and also the car is within still in perfect shape then, you are most likely to get the car lease extension you desire. Thatís because any dealer feels fortunate to work with a customer that keeps his end from the bargain.

Once you have checked each one of these documents itís time to set a date and a time when you will visit the leasing company and renegotiate the contract. You should just set a date and an hour for the meeting and never negotiate the extension over the phone, since you shouldnít depend on verbal promises. Factors to consider that a new contract such as the terms you negotiated with the leasing representative is written in support of then should you sign all the documents. Prior to signing you should also check if the contract states itís an automobile lease extension or a renewal from the expired contract, depending on which option you have chosen.

You might receive a more advantageous car lease agreement if you try to barter a brand new lease instead of modifying that old one. Thatís a choice particularly if you desire a car lease extension for a longer time frame. It would be more advantageous since the value of the car you have leased has depreciated in time and an extension might be more costly than should you go for a new lease. Just keep an open mind and then try to give a opportunity to the present lease options of your current leasing dealer and even check out the offers offered by other competitors available on the market. Thatís if you decide you'll need a completely new lease.

Once youíve chosen one of these options, you have read and paid attention at the contractís clauses you are able to sign it and enjoy driving your brand-new leased car or even the same car for those who have made a decision to extend that old lease. However in this example, the minimum term is of three months, because otherwise the leasing company won't be interested. The important thing to worthwhile lease is comparing and evaluating all of your options objectively and in the finish you'll need a car lease just before you can afford purchasing a car of your own. Thatís the day when each one of these problems will fade.

Joel Dammann writes about Car lease extension at his Car blog.

Report this article Ask About This Article

More to Explore