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Top Washington Car Lease Deals
To get the most value out of the top Washington car lease deals, you have to become a leasing expert. Knowing everything that goes into a lease agreement is the best way to prepare yourself for a trip to the dealership, so that you know exactly what you are looking for.
The Basics of Washington Car Leasing
Leasing a vehicle is a great way to experience driving a new car or truck for a certain time period without having to make a full commitment to buying it. Leasing offers lower monthly payments, often lower down payments, and the ability to drive a new car every couple of years.
Leasing also saves you money when dealing with repairs and regular scheduled maintenance, because most manufacturer warranties are valid for the first 2-3 years of ownership, so you can arrange for a lease that is the same duration of time. This will allow you to drive the vehicle without ever having to worry about opening your wallet to maintain it.
The Terms of a New Car Lease
There are certain terms you need to familiarize yourself when getting ready to lease a vehicle. Knowing these terms will help you understand the leasing process.
Lease Term: The amount of time you lease the new car or truck for. The most common lease terms are 24 to 36 months, however, there are some leases that span 4 or even 5 years.
Capitalized Cost: The final cost of the vehicle. This is the price you and the salesman agree upon as final sale price of the vehicle. The sticker price is fully negotiable, even when it comes to leasing, when you and the salesman come to firm decision on price after negotiating, this is considered the Capitalized Cost.
Depreciation: Depreciation is a process that every new vehicle goes through. Once a new car or truck is driven off the dealership lot it starts losing value. Depreciation affects everything associated with the resale value of a car. Depreciation is a calculated way of factoring in wear and tear, damages, and other things that occur during the lifespan of a vehicle and it deducts these factors from the value of the vehicle.
Residual Value: This is the amount your vehicle is worth at the end of your lease term. If you lease a new vehicle for 36 months it will suffer 3 years of depreciation, when you subtract the depreciation amount from the Capitalized Cost you have the Residual Value. During your lease term your monthly payments will reflect the amount of depreciation- i.e. you have to pay the difference between the Capitalized Cost and Residual Value to the dealership, this determines the price of your lease.
Once you understand these terms, requesting a free, no obligation lease price quote is the best place to start. Receive the lowest lease prices available in the state of Washington directly to your computer. Seattle, Spokane, Tacoma, and more are witnessing some of the lowest lease prices in history. Don’t wait, these prices may not last!
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