10 Money-saving car leasing tips

There is a lot of appeal to leasing a car. For example, with a lease, the monthly payments are less than financing a new car purchase; the down payment is often minimal; the vehicle is typically brand new and covered by a manufacturer's warranty; and it puts you on track for new car in a short time. While there are distinct benefits to leasing, there are also numerous potential pitfalls. Keep in mind that there is no free ride. But our tips can help keep you on the right track. Reference 

To drive a good deal:
Negotiate the vehicle's purchase price as if you were going to buy the car. Only after you have a firm price should you bring up leasing. After all, it is a form of financing.

The mileage limit, down payment, and purchase-option price can also be negotiated. Remember that, just as with a loan, the more you put down, the less your finance charges will be.

Negotiate the lease money factor, the number used by some lessors to determine the interest (or rent) portion of the monthly payment.

Unless it's included with the lease, buy Guaranteed Auto Protection (GAP) insurance to protect yourself in case the vehicle is stolen or totaled in an accident.

To keep your monthly payments as low as possible, look for cars that don't depreciate faster than average. Consumer Reports' owner-cost Ratings are included in the model pages with detailed information on depreciation and other factors.

Avoid leases that extend beyond the car's factory warranty. After all, that protection is one of the key appeals of a lease.

Note any end-of-lease procedures and fees (such as returning the car with nearly new tires). Make sure the policies and fees are clear and fair.

Buy extra miles up front if you expect to run over the standard allotment. You can often have the money spent on additional, unused miles returned at the end. Any mileage overage will come at an increased rate. Lease Cars Nz

If applicable, make sure your trade-in is deducted from the leased car's capitalized cost.

If you're considering buying after the lease ends, first make sure the vehicle is worth at least the purchase price. That often won't be the case if you had entered into a subvented lease, for which the automaker artificially raised the residual value. If the vehicle is worth less than the buyout price, try bargaining down the price. If you can't, walk away.

Leasing is not for everyone. But for those customers who prize being in a new vehicle for a specific period of time with fixed ownership costs, it can have real appeal. Just be sure you understand how it works going in and negotiate.

Do you make these mistakes in your fleet management?

You have everything under control. Or not? Do you get the most out of your fleet every day? We list the four most common mistakes. Not to scare you, but to give you tips for successful fleet management services for small business.

1. You have absolutely no insight

Your fleet once started with three cars. And that was still manageable. But then there were ten of them and now 50 cars are driving around on your behalf. The Excel list is bulging and the overview is sometimes hard to find. You no longer have any insight into your fleet and you therefore miss out on opportunities. Because do the cars drive efficiently? Can you possibly save costs? By using a fleet management system you get immediate insight. All data in one system, for you in one overview.

2. You do not use your cars efficiently

You are convinced that you need all cars equally. But is that really so? Are you sure you can't make it with one less car? Through direct insight into your fleet you can see which cars are available and which ones may be standing still for an unnecessarily long time. Carsharing plays an important role in this. Who knows, you might come to the conclusion that you can achieve the same goal with fewer cars, simply by using them in a smarter way.

3. You do not make your employees aware

All 50 cars are of course not driven by yourself, but by your employees. That is why they - the end users - are important for good fleet management. Do your employees know that when they drive too fast, they use 10% more fuel? And did you know that when you make your employees aware of their driving behavior, this leads to 50% fewer accidents and damage? This makes awareness an important part of successful fleet management.

4. You only see what happened at the end of the year

You now have insight, the cars drive efficiently and your employees are aware of their driving behavior. Everything under control. But then the bookkeeper comes and after a year you can see what the balance actually looks like. That's a shame, because that's how you actually stood in the last year. By creating real-time insight into your fleet with the help of a fleet management system, you immediately know where you stand. You can immediately see how your fleet is doing and what you can possibly save on.

Get more details: 7 practical tips for the manager who ‘adds’ the fleet