Restrictions You Need to Know when Leasing a Car

Leasing a car means having to sign a contract that comes with a set of terms and conditions. Within these terms and conditions is a list of restrictions. It helps to be acquainted with these limitations so that you can have a better perspective as you evaluate the car lease packages you are considering.

If you go to a car leasing website like www.genusleasing.com, you will notice how convenient it is to find a vehicle to lease as the site readily presents options according to vehicle type, budget or car make/model/brand. To make a more thorough scrutiny of your choices, though, you have to look into the restrictions that come with the lease agreement.

Mileage

This is a basic restriction in car leasing. You are allocated a maximum mileage per year. This ranges from 5,000 to 12,000 miles for standard leases. For high-mileage customers, it ranges from 18,000 to 20,000 miles. If you go beyond your maximum, you will be charged for each excessive mile. It is usually cheaper to pay for a higher mileage lease instead of paying for the excess charges. That’s why before you lease, you have to have a reasonable estimate of the typical mileage you need.

Modifications

Does the lessor allow the installation of a tow-bar? Can you add tints to the windows? There are changes in the car you may want to do, but the lease contract may prohibit you from doing them. In going over your options, you may want to take this restriction into account. Of course, you have to choose the lease deal that suits your needs. If you need to implement some modifications, you can’t lease from a company with strict limitations.

Taking the car abroad

Most car leasing companies prohibit customers from taking their leased vehicles abroad. However, there are those that permit it after completing some papers. If it is allowed, everything needs to be arranged in writing. Also, the customer will have to seek the written permission of the finance company.

Good repair and condition

After the term of the lease, you will have to return the vehicle in good condition with “fair wear and tear” taken into account. Small scratches may be ignored by the leasing company, but conspicuous damage such as a cracked or broken windshield, missing side mirror, or a malfunctioning door must be repaired. Customers can have such issues fixed by a third-party garage, or they can return the vehicle as it is. The leasing company will then estimate the cost to cover the repairs and add this cost to the final bill.

The details of the restrictions imposed by a car lease company are important points to consider as you choose the car lease package to get. You cannot ignore these and simply focus on the interest rates, monthly payments, and purchasing price for the vehicle at the end of the term. These are significant factors you have to carefully evaluate to make the most out of the money you pay for a lease.

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