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Important Aspects to Consider In a Car Lease

Sunday, May 15th, 2011

Length of Contract: Generally lease agreements are for 6, 12, 18, 24, 36, or 48 months.

Negotiate: Car leasing companies usually buy vehicles in large numbers and hence can pass on the benefits to customers.

Residual Value of the Car: Select a car with a good residual value at the end of the contract. This will bring down the monthly instalment.

Early Lease Termination Penalties: Many lease agreements have stringent penalty clauses for early termination. Analyse these clauses carefully.

Excess Mileage Charges: Estimate your car usage accurately before entering into a contract because excess mileage charges may apply.

Wear and Tear: Read wear and tear clauses carefully. Most lease contracts specify that charges for excess wear and tear will have to be borne by the customer at the time of returning the car.

Modification Clauses: Usually customers are not allowed to make any modifications to the car. If the customer makes any changes, he will have to bear all expenses to bring the car back to its original condition, when returning it to the lease company.

Extended Auto-Warranty

Wednesday, May 11th, 2011

Without any hesitation, it can be admitted that extended auto-warranty with the new car and used extended car warranty with old cars have become much popular in USA. To protect the vehicle from further damage and at the same time to get the benefit of maintenance service and repairing facility, it is important to purchase extended auto-warranty. An extended auto-warranty is a service contract between the buyer and the seller for the maintenance and repairing of the covered worn part of cars at the time of emergency.

Now, there are a set of advantages in this service contract. First, there is a 24X7 roadside service amounting up to $100 for specific purposes. Secondly, one can take the advantage of car rental facility at the time of servicing of his own car. Thirdly, additional towing and trips interruption facilities. This plan also has the coverage of the facility of replacement of lubricant such as oil, and charging of the dead batteries. However it is also true that a reliable and trustworthy warranty company provides interest free payment option and at the same time a good company issues extended auto warranty and administers the claims. So, one should make a proper inspection regarding the authenticity and reliability of warranty companies.

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