In today’s economy most of us cannot afford to drive a new car unless we can keep our monthly payments affordable. Leasing a new car can be a viable option and allow you to drive a brand new car every two to four years, with much lower monthly payments than if you bought the exact same vehicle.
When you request a free, no obligation to lease price quote, you will receive the best lease specials that new car dealerships in Ashburn are offering, along with special incentives only being offered over the internet.
- A hassle free/haggle free car leasing experience
- Find available no money down car lease offers
- Available 0% APR offers
- Low available monthly car lease payments
- Free, no obligation to lease price quotes
How Credit Scores Will Affect Your Car Lease Terms
When you lease a car you’re essentially being extended a type of credit to use the car. Leasing companies want you to be financially responsible and not default on the lease payments. Consequently, they will evaluate your credit score to determine what rates you will pay. Let’s explore credit for car lease terms further:
- Credit Scores: Typically, someone with a credit score of 700 or higher will get the best rates on a new car lease, though even a small drop to around 640 or so could cause difficulties obtaining a lease. In those cases, an individual could be required to pay more money in interest and/or fees. With a very low credit score, you very well would may no be approved to lease at all.
- Other Considerations: Leasing companies don’t just evaluate credit scores, they also evaluate a person’s entire financial situation, such as amount of monthly income and bank accounts (checking and savings). Higher monthly income along with substantial funds in savings could help balance out a low credit score, to receive better leasing terms.
Does My Credit Score Affect Car Insurance Rates?
Yes it does. Studies have indicated there is a clear relationship between a person’s credit score and the amount of auto claims they are likely to file. Individuals with poor credit seem to file more insurance claims than those with good credit, which will cost the insurance company more money. So if you have a history of either not making payments or making them late, most likely your premiums will be substantially higher.
If your credit score is lower for other reasons, it may not have as big effect on your rates – this is why insurance companies will run your credit report prior to issuing you a policy.
What Are the Best Cars to Lease?
When you’re evaluating cars to lease it’s important to keep in mind that some cars are better to lease than buy, mostly due to a car’s rate of depreciation.
It has been determined that new cars lose around fifty-percent of their value over a three year period. Consequently, if you leased a higher end vehicle you would only need to pay half of the car’s value rather than the full value.
Here are a few examples of the best types of cars to lease:
- High-End Vehicles: Manufacturers such as BMW, Mercedes and Jaguar produce great models that are ideal for leasing. While these cars hold a bit more of their value after three years, they will still depreciate to the point where you would owe more money than what they are worth. For this reason, leasing this type of car means you’ll save money by only paying the actual value of the automobile.
- High Resale Value: Some cars hold their value more than others, so it’s important that before you lease a car you evaluate the overall resale value. This will keep your monthly lease payments lower and help you drive a great vehicle that will be better than similarly priced cars.
- SUVs: High demand vehicles will hold their market value much better after three years than a typical sedan, but keep in mind that if the market becomes saturated with that particular type of vehicle its value will drop (the supply and demand factor).
5 Car Manufacturers With a History Of Offering Great Lease Deals
There are several automakers that have been extremely competitive in their leasing promotions over the past several years, and here are a few to keep in mind when evaluating which make of car to lease:
This manufacturer not only builds quality, affordable cars but has a great track record of offering attractive leasing incentives. Leasing a new Hyundai is definitely worth your consideration.
Honda is extremely competitive in the area of leasing, to encourage more consumers to get behind the wheel of a new car. They recently reduced monthly lease payments quite a bit, as well as increased mileage allowances.
Toyota continues to remain one of the top manufacturers offering great leasing deals and with the current economic situation they’ve stepped up efforts to help consumers be able to lease a new car.
Audi’s approach to leasing is to make every attempt to do what they can to get customers into a new car lease; such as offers of no money down, along with lowering sale prices. They’ve realized they have to step up to the plate during tough economic times or their cars will sit on the lot.
VW offers very attractive leasing programs, including low monthly lease payments. They are known for producing quality and safety conscious vehicles, so combined with good lease incentives they’ve made it very affordable to drive one of their new models.
Get on the road to driving a brand new car and have money left over to enjoy the fun things in life. Request a free, no obligation to lease price quote and see for yourself how affordable it can be to drive a new car.
Evaluate leasing specials from top new car leasing specialists in Ashburn and have them compete to give you the best lease deal on the new car of your dreams. Our service is absolutely free and there is never an obligation to lease.
You have nothing to lose and the best lease deals to gain.