What Is Car Leasing Anyways, And How Does It Work?

Published on: 15 June 2018 Last Updated on: 24 July 2024
Car Leasing

Put plainly and simply, car leasing gives people the option of getting a car with a smaller down payment and typically lower monthly payments for a set number of months with a set amount of mileage allowed during the time the customer has the vehicle. All of the variables listed there are what’s known as the “lease agreement”, which covers all the terms and conditions of the car. Leasing is an awesome option for drivers, but it’s one that unfortunately not a lot of people understand all that well, so this article will endeavor to explain how exactly leasing works, and how it can be a better alternative to buying.

Leasing can be a better alternative than buying because it allows you to drive a higher-priced car – one that you would not be able to normally be able to afford – for affordable monthly payments. In most big Canadian cities, like Toronto, Vancouver or Halifax, someone can get a lease on a new car for a low price, drive that car for typically up to three years and then turn the car back in at the end of the lease term. Leasing is kind of like renting a vehicle, in that you do not own it and you will turn it back into the dealership at the end of the lease term.

Another reason that leasing can be preferable to buying is that it allows customers to get a new vehicle at the end of each lease term (if they so choose) without risking negative equity on a trade-in (and thus incurring higher monthly payments for the new car that they get). Leasing can also include perks like having standard service included and having the ability to carry over your down payment from one lease to the next (provided you continue to lease with the same dealership). Leasing has also become very popular with people that don’t necessarily drive a lot. Since leases come with a set amount of mileage (and penalties for going over the mileage) people that live in cities or close to work can take advantage of the lower lease prices for lower mileage lease options.

Here in Canada, where there are lots of car dealership options, many dealerships offer perks to returning lease customers, to keep them from going to a different dealership, so it is a good idea to look at a dealership’s returning lessee offers to see if they are a good fit before entering into the initial lease agreement. These are certain small considerations you can learn more about over here at the AUTO ONE Group Blog which does a pretty comprehensive job detailing leases.

Leasing is a great option for anyone looking to get a new car but doesn’t want to get roped into the large down payment and protracted loan payments associated with buying. If you live in the city here in Canada, it’s worth taking the time to seek out loan options on cars.

Read Also :

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

View all posts

Leave a Reply

Your email address will not be published. Required fields are marked *

Related

Driving In Bad Weather

7 Things to Do When Driving In Bad Weather Conditions

Accidents can happen, including those on the road. Sometimes, car accidents are difficult, if not impossible, to avoid, and certain conditions can make it more likely that you will get into a collision. If the weather conditions are less than perfect, such as in windy or wet weather, it can make for a disastrous situation. However, there are always things you can do to avoid getting into a car accident. In general, there are seven things you should do when you are driving in bad weather conditions in Brisbane, Australia. 7 Things to Do When Driving In Bad Weather Conditions: 1. Slow Down: First and foremost, you should always slow down when driving in bad weather. This is important even if your vehicle is equipped with all-wheel drive capabilities. At the very least, you should reduce your speed to around 10 miles below the posted speed limit. If the weather is particularly bad, you may want to reduce your speed to around 15 miles below the speed limit. Driving slower can greatly reduce your risk of getting into an accident. Even if you do have an accident, it will be far less severe. 2. Avoid Tailgating Other Vehicles: You should always avoid tailgating other cars, to begin with, but this is that much more important when you’re driving in poor weather. When it’s raining and the roads are slick, it’s more difficult to slow down or stop when you need to when you are traveling too closely behind the car directly ahead of you. You should leave at least a good 100 yards or 4 seconds between you and the vehicle in front of you. If you are driving a larger vehicle, such as a caravan, truck or trailer, you should double those numbers to be safer. 3. Turn On Your Headlights: Whether it is raining or it’s a foggy day, you should turn on your headlights and set them to your low beams. It’s easier to see with your low beams turned on. You should always avoid using your high beam headlights in bad weather conditions as it can make it more difficult to see and the light can simply reflect off the rain or fog. However, if you’re driving in foggy conditions, you can turn on your fog lights if you have them. 4. Avoid Driving Through Flooded Areas: During the summers in Brisbane, there is more flooding. As a result, there are more areas on the road that will be flooded. To be safer on the road, you should avoid driving through any flooded areas. You may have difficulty gauging how deep the water is, which is extremely dangerous. If you drive in those areas and water gets into your engine, your vehicle will abruptly shut off. If you learn of any flooded areas before you get in your car, you should avoid driving in those areas. Find an alternate route if possible so you can completely avoid traveling on a flooded road. 5. Brake More Slowly: When you are driving in bad weather, especially if the roads are wet with rain, it’s important to brake more slowly and carefully. If you brake too sharply or quickly, it can result in a disastrous situation. You can end up losing control of your vehicle and skidding out or even crashing. Gently tap on your brakes until you are able to come to a complete stop. You should also try to ease up on the gas pedal to slow down in slippery areas of the road and then tap your brakes to stop. 6. Avoid Hydroplaning: Hydroplaning occurs when your tyres are not actually touching the surface of the road during heavy rainstorms. Instead, you are traveling over the surface of the water, which is a very dangerous driving situation. Usually, this happens when you are traveling at too fast speed in this type of weather or when your tyres are worn out and have too little tread depth. Hydroplaning can cause you to lose control of the steering wheel and prevent you from slowing down or stopping. If you find yourself hydroplaning, stay calm and lift your foot up from the gas pedal to slow down. As your speed decreases, your tyres will readjust so that they are again on the road’s surface. Be careful and steer carefully while slowly breaking as your speed slows down. 7. Avoid Side Roads: Although it might be tempting to take side roads while you are driving in bad weather conditions, it can actually be more dangerous. Smaller side roads can be even worse when the rainfall is heavy. The main roads are safer and easier to travel through as city officials are more likely to concentrate on clearing them due to heavier traffic. There is also a greater likelihood that you can get help if your car suddenly stalls on a larger road. It is also better to drive in the middle lane on large roads as it keeps you away from the areas where there is more flooding. Driving in Brisbane during bad weather conditions is certainly easier when you follow these important steps. If you do get into an accident and suffer injuries and car damage, you should immediately contact car crash lawyers in Brisbane to discuss your options for starting a claim to recover compensation for your medical expenses and other damages. Read Also: Will Self-Driving Cars Replace Human Error? How Car Detailing Can Keep Your Vehicle In Top Shape How Do Self-Driving Cars Really Compare To Human Drivers In Terms Of Safety? Enjoy Driving Your Jeep In The Desert Safari By Playing Off Road Dubai Desert Jeep Race For Free

READ MOREDetails
Car Brands

The Best Car Brands To Buy As An Investment

Investing in a car in British Columbia transcends traditional notions of mobility and enters the realm of strategic financial planning. In a market flooded with countless models, certain car brands stand out for their potential to be sound investments. This blog delves into the car brands renowned for maintaining value, durability, and brand prestige, making them prudent choices for savvy investors. 1. The Resilience of Luxury Brands: Mercedes-Benz and BMW Mercedes-Benz epitomizes luxury and performance, making it a top choice for investors. Its models, from the executive-class S-Class to the sporty AMG range, are known for retaining value thanks to timeless aesthetics and engineering prowess. BMW's lineup, including the popular 3 Series and luxurious 7 Series, is celebrated for blending dynamic driving experiences with cutting-edge technology, ensuring a high resale value. 2. Japanese Reliability: Toyota and Honda Japanese brands Toyota and Honda are everywhere in British Columbia and are synonymous with reliability and value retention. Toyota's range, particularly the Camry and Corolla, offers vehicles known for their longevity and consistent demand in the used car market. Honda's lineup, including the Civic and Accord, boasts durability and efficiency, making these cars a smart investment for those seeking value over time. 3. The Allure of American Muscle: Ford and Chevrolet American muscle cars, particularly from Ford and Chevrolet, offer unique investment opportunities. The Ford Mustang, with its rich heritage and evolving design, has a cult following that often sees older models appreciate in value. Chevrolet's Camaro, another icon in the muscle car world, combines performance with nostalgic appeal, making it a sought-after model among collectors and enthusiasts. 4. The Rise of Electric Vehicles: Tesla Tesla's impact on the electric vehicle (EV) market makes it a noteworthy brand for investors. Models like the Tesla Model S have disrupted the auto industry with innovative technology and electric propulsion, becoming collector items. As the pioneer in EV technology, Tesla vehicles have become very popular on the streets in British Columbia and are anticipated to be valuable assets in the future automotive collector market. 5. Premium SUVs: Land Rover and Porsche Luxury SUVs, especially from brands like Land Rover and Porsche, command a significant presence in the investment market. Land Rover’s Range Rover, renowned for its off-road prowess and luxury features, tends to hold its value well over time. Porsche's SUVs, particularly the Cayenne and Macan, offer the performance of a sports car with the functionality of an SUV, making them appealing to a wide range of buyers. 6. The Exclusivity of Supercars: Ferrari and Lamborghini Supercars from Ferrari and Lamborghini are more than mere vehicles; they are investments in automotive art. Ferrari’s models, such as the F8 Tributo and 812 Superfast, are known for their exclusivity and often appreciate in value. Lamborghini’s vehicles, including the Huracán and Aventador, are coveted for their dramatic designs and limited production runs, ensuring a high demand among collectors in BC. 7. The Dependable Swedes: Volvo Volvo's commitment to safety and quality makes it a unique contender in the investment market. Classic models like the P1800 and newer innovations like the XC90 hybrid are gaining attention for their investment potential. Volvo's focus on sustainability and safety, combined with its distinct design philosophy, makes certain models particularly appealing to niche collectors. 8. The Classic Appeal: Volkswagen Volkswagen holds a special place in the world of automotive investments, especially with its classic models. The Beetle, one of the most recognizable cars globally, has a dedicated following and certain models have seen an increase in value. The Microbus, another iconic Volkswagen vehicle, has become a collector's item, with restored and well-maintained versions fetching high prices. 9. The British Elegance: Jaguar and Aston Martin British car manufacturers Jaguar and Aston Martin are renowned for their elegance and performance. Jaguar’s classics like the E-Type and modern vehicles like the F-Type are known for their beauty and engineering, making them attractive for investment. Aston Martin, the brand famous for its association with James Bond, offers models like the DB11 and Vantage that are not only exhilarating to drive but also hold their value well due to their exclusivity and craftsmanship. 10. The Tech-Savvy Choice: Audi Audi stands out for its blend of technology, performance, and design. Models like the Audi A8 and the R8 combine advanced engineering with luxurious features, making them desirable in the resale market. Audi’s commitment to innovation, especially in areas like autonomous driving and electric powertrains, positions certain models as potentially valuable investments for the future. 11. The Performance Giants: McLaren and Porsche McLaren and Porsche are revered in the realm of high-performance sports cars. McLaren, with its racing heritage, offers vehicles like the 720S and the GT, known for their speed and advanced aerodynamics. Porsche’s 911 and the 718 Boxster/Cayman series are not just thrilling to drive but also tend to maintain their value, thanks to their iconic status and timeless design. 12. The Unique Appeal of Subaru and Mazda Subaru and Mazda offer unique investment potential with their distinct approach to car manufacturing. Subaru’s vehicles, particularly the WRX and the Outback, are known for their all-wheel-drive capabilities and robust build. Mazda’s MX-5 Miata, celebrated for its driving dynamics and affordability, has a loyal fanbase and models in good condition have been known to appreciate in value. Driving Towards the Future: Making Informed Car Investment Decisions Investing in or financing a car in British Columbia requires considering various factors, including brand reputation, model history, and potential for appreciation. From the luxury and performance of Mercedes-Benz and BMW to the timeless appeal of classic Volkswagens, and the innovative edge of electric vehicles like Tesla, the market offers diverse opportunities. Whether it's the robustness of Japanese brands, the allure of American muscle, the exclusivity of supercars, or the unique charm of classic and high-performance vehicles, each brand and model presents its own set of advantages for investment. Read Also: Best New Cars For Teenagers Important Tips To Maintain Your Luxury Car Reap The Benefits Of An EV Charger Rebate In California

READ MOREDetails
Checklist For Your Car

Things You Need To Have On Your Checklist For Your Car

Owning a quality automobile provides you with the freedom to navigate the continent. And keeping your vehicle running like new and performing like a champ makes the journey that much better. Yet, many car owners neglect to consider some significant and inexpensive upgrades that they can make to improve the value, performance, and comfort of their vehicles. Let's consider the things you need to have on your checklist for your car below. Things You Need To Have On Your Checklist For Your Car: #1. Laser-Measured Rubber Floor Mats: Like the floors in your home, the carpets of your vehicle take the brunt of the damage. Many car interiors are light-colored and will stain super easily. When you purchase custom laser-measured rubber floor mats, you can keep those carpets looking like new forever. Most car owners don't realize that their carpets are backed with jute padding to absorb sound. This padding material will absorb moisture, grow mildew, and stink if you don't invest in quality floor mats. Most factory floor mats are made out of cloth. Not only are they difficult to keep in place but they also do very little to protect your carpets from water damage. The water will carry the grime that you pick up off the roads into your car and embed it deep in the fibers. It can take a professional carpet shampoo and steam cleaning to restore the appearance of soiled carpets. #2. Seat Covers: Your seats also take a beating. Unless you have rich leather interiors, you should invest in high-quality seat covers to limit damage and wear. Quality neoprene seat covers help to keep your car cool in the summer and retain body heat in the winter. They are also fireproof and waterproof. This means that you can drop a lit cigarette on them or even a drink without staining and ruining your expensive upholstery. Every driver who values their automobile should have a set of high-quality seat covers. #3. Performance Air Filter: One of the biggest hurdles that your engine faces is drawing in enough oxygen to promote proper combustion. Not only does a clogged air filter reduce the responsiveness of acceleration but it also reduces fuel efficiency. This inexpensive upgrade can add a few horses to your powertrain and save you the need for constant checking and cleaning of your factory air filter. It is unclear why everyone hasn't upgraded. #4. Quality Tires: When it comes to cars, there is no single item that faces more wear than tires. Tires are constantly generating heat from the friction created by road contact. If you don't have a set of high-quality tires, the tread will wear down quickly and maybe unevenly. Finding the right tire for your driving needs such as a touring or fuel saver tire can make a big difference in the way your vehicle handles and uses gas. The higher-quality tires don't produce any road-noise, vibrations, or handling issues. They will run great in water, light snow, and even absorb some of the uneven textures of the road. You can purchase a new set of tires and have them installed at Black Label Automotive. They will match you with the ideal tire for your needs and remove the guesswork. #5. Tune-Up: Today's modern vehicles don't have to be tuned up with adjustments as they did in the past. Most of the sensors and operations of the engine are fully automated and require no adjustments to restore optimal performance. However, there are certain wear items that are commonly known to cause performance problems. You may need spark plugs, coolant temperature sensors, or oxygen sensors replaced every so many years. In addition, the fuel filter will need replacement every 3 years or so. Many drivers see significant improvements when they clean their fuel injectors and throttle bodies. #6. Window Tint: Window tinting was once more popular until laws were passed to prevent people from fully tinting their vehicles. Tinting provides valuable protection from UV radiation and heat in the summer. Thanks to the new nano-ceramic tints, you can obtain the same level of protection without the big black film. This nano-ceramic tint is a nearly invisible clear coating that goes on the interior of your windows. It blocks out almost 100 percent of the UV radiation and protects your skin and interior from sun damage. Read Also: Spring’s Favourite Car: The Ford Mustang 7 Important Car Driving Safety Tips You Should Not Skip! Buying A Used Car? Few Negotiating Tips, You Can Use Car Insurance: What You Need To Know Before Taking The One!

READ MOREDetails