Do You Have a Good Lease?
Leasing a new vehicle is a great way to drive a car that you love at an affordable price. But not all leases are created equal. If you’re in a lease right now, there’s a chance you could be in a better one from Porsche of Spokane. Take a look at these tips for assessing the quality of your lease. If, after reading, you have doubts about the quality of your lease, head over to Porsche of Spokane to discuss our great leasing options.
Calculating the quality of a lease deal can be a little complicated, but it can be summarized by a basic rule of thumb. Many people say that the best lease agreements charge $125 per month for every $10,000 of a vehicle’s cost. For example, if you’re leasing a $40,000 car, you probably shouldn’t be paying more than $500 a month. To learn more about how to calculate hidden costs and the best lease deals, come talk to our team at Porsche of Spokane.
High Residual Value
Residual value is the value of a car that is left over after a lease. In other words, this is the value of a vehicle expected after the depreciation that occurs during the time of the lease. In a good lease, you should only be paying for the value that is lost during the time of the lease. When this is the case, you pay less on cars that hold their value.
Look for Low Fees and Competitive Interest Rates
A good lease agreement will offer you competitive interest rates, so avoid dealerships that won’t work with you on this. You should also be looking for lease agreements that have low added fees. If your lease agreement tacked on several fees during the negotiation, you might not have the best possible lease.
Contact our Finance Department here at Porsche of Spokane if you have any questions about your current lease. We can also give you more information about starting a new lease with better terms and rates than the one you have right now.