5 tips to save money on a car lease

25/01/2022

5 tips to save money on a car lease

There are lots of benefits when it comes to leasing a car, and here we offer some tips to save money on a car lease deal.

One of the benefits is to enjoy low monthly payments that tend to be cheaper than new car finance deals.

So, if you are considering whether or not you should lease a car, then these tips to save money on a car lease, may just persuade you to sign up.

 

Depreciation

One of the issues when it comes to leasing a car is the monthly payment that you will need to pay.

There's no doubt that leasing is an effective way of driving a new car that you may otherwise be unable to afford.

However, this also works for those who want to lease a car cheaply so consider carefully which marque and model you want to lease because the depreciation value will have an impact on the monthly payment.

Essentially, you should look for those vehicles that tend to hold their value because they will have a lower depreciation rate and, therefore, cheaper monthly payments.

 

Pay a higher initial rental

Another issue when it comes to saving money when leasing a car, is a straightforward proposal and that's to pay a higher initial rental amount.

All car leasing companies will ask for an initial rental, and, for example, with Tilsun Leasing you can pay an initial rental that's equivalent to one month, three months, six months or nine months of the monthly payment.

This will see the monthly payment falling if you pay more than just one month - and may lead to you saving money or giving you the opportunity of leasing a premium marque car, such as Mercedes or BMW.

 

Manufacturer's warranty

Since you will be driving a brand-new car as part of your lease agreement, you will be covered by the manufacturer's warranty.

Most manufacturers offer up to three years and this could be an important offering since it will protect you against having to replace any faulty parts.

Not all manufacturers will offer three years, some offer five and seven years of warranty, and some offer less.

It's always worth asking about the manufacturer's warranty which remains valid with a car lease deal.

 

Agreed mileage limit

Another effective way to save money when you lease a car is to calculate carefully how many miles you will be travelling every year.

It may be tempting to try and sign up to a car leasing deal with, say, 5,000 miles because the monthly payment is low, but if in reality you are driving 10,000 miles this could be an expensive mistake to make.

That's because you'll be handed a bill for any excess mileage over the agreed amount and this will range from 3p per mile and up to 50p per mile, depending on the car leasing company's rules.

Should you exceed your agreed annual mileage in the first year of your car leasing deal, you still have two years to drive fewer miles and achieve the agreed mileage limit.

Alternatively, you could contact the car leasing company to discuss what your higher mileage limit is and how that will impact on your monthly payment.

This will inevitably save money because you will avoid the excess mileage charge.

Tips to save money on a car lease

Finally, another tip to save money on a car lease is to shop around between various car leasing companies, and there's a lot to recommend speaking with the Tilsun Leasing team to see how much a car lease deal with them will cost and they can be contacted on 03330 040 888.

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