What to Expect from the Auto Lease Process

When it is time to replace an old car with a model that is updated, reliable and more enjoyable to drive, people have two main options at their disposal: leasing or buying. While leasing contracts can save lessees a significant amount of money over buying, this alternative isn’t the best fit in some circumstances. That is precisely why reputable leasing companies walk prospectivelesseesthrough a step-by-step process before presenting them with a final contract.

The process adhered to by a reputable auto leasing company will typically begin with a free consultation. This may take place over the phone, in person or via email, depending on prospective lessee preferences. The biggest priority for a reputable auto leasing company during the consultation will be determining if leasing really is the best option for the person.

Typical leases allow for about 12,000 miles to be put on a vehicle annually without worry about penalties or upcharges. Some companies, such as credit union-owned leasing enterprises, may offer a cushion of up to 15,000 miles in their standard contracts. Although it may be feasible to negotiate terms for a higher amount, if necessary, people who typically drive more than 15,000 miles a year may find leases are not the best fit for them. A reputable leasing consultant will be frank about this. A leasing consultant may also help the prospective lessee determine if the car they desire is the right fit for them under the circumstances.

Should the initial consultation result in a desire to move forward, the process will generally follow these steps:

• Locating the desired car – Once a leasing consultant and prospective lessee have selected the appropriate car, the leasing company will physically locate it, right down to any special upgrade requests made by the prospective lessee.
• Running the credit check – Reputable leasing companies will not run a credit check and file an application until the car has been found, the highest trade-in price is obtained (if there is a trade-in) and the prospective lessee is ready to move forward.
• Setting final terms – Once an application has been approved, a leasing consultant will work with the prospective lessee to define the right term and payments. Reputable leasing companies will provide the lowest, no-haggle price, so prospective lessees can count on fair terms.
• Completing the transaction – The final steps in the process involve signing the contract and delivery of the desired vehicle. Depending on the leasing company selected, lessees will be able to pick up their new cars at the dealership or the leasing company’s office. Some companies may even deliver cars right to their lessees’ doors for added convenience.

Auto leasing can provide lessees with significant money-saving benefits. Reputable leasing companies will walk their prospective lessees through a step-by-step process meant to ensure the fit is right for them.

a href=http://www.fairlease.org/about-usFairLease is a credit union owned company, FairLease follows a credit union philosophy of serving people, meeting their needs and providing the best product at a reasonable price. In essence, we want "