Are You Interested in Leasing? What You Should Know about the Process of Leasing a Vehicle

For some people, owning a car is the ultimate dream. But for an increasing number of individuals, leasing a vehicle has become a more practical and cost-effective option. Leasing comes with more than a few benefits, including savings on the deposit, savings on maintenance and repairs, and the appeal of driving a new vehicle without having to deal with its depreciation over time. When you lease, you are simply returning the vehicle to the leasing company at the end of the deal, and you’re done with it – you can then get another car to drive or choose to buy a new car. But of course, just like other agreements, you have to go through a specific process when you lease a vehicle. So, are you interested in leasing? The following is what you should know about the process of leasing a vehicle.

Think of the car you want

The first step is for you to think of the car you want. You may already have a specific make and model in mind, so it’s best to do research on this make and model so you can determine if it’s the right fit for you (and your budget). It also pays to find out what other customers have to say about the make and model you want. If you want some extra features and options, find out how much these will cost as well. When you already have a good idea of the precise make and model you like, then you can find out if it is available at a car leasing provider such as www.genusleasing.com and find out the length of the term, the annual mileage which comes with the vehicle, and whether you want to include maintenance and repair with it as well. Then you can request a quote and start the process.

The application and quote

Once you request a quote, you will receive a written one which specifies certain details. Make sure to look at the quote closely to see if it agrees with your budget and plans, and if you agree with it, then you can begin the application process.

The credit check and approval

Once you send in your application for car leasing, you will undergo a credit check just to see if you have a good credit score and if you can afford to lease the vehicle. Fortunately, the credit check for leasing a car isn’t as extensive compared to when you are buying a car, as it won’t involve a check of your other expenditures. On the other hand, you should make your own calculations to make sure you can afford the monthly payments for the lease.

And once your application is approved, you can then wait for the leasing provider to order your car and add any extras you have requested. This can take a few days, but car leasing usually comes with free delivery as well.

Documentation and security

You should then receive an order form or confirmation from the provider, and once you agree with the form and confirmation as well as take note of the date of delivery, then all you have to do is send it back to the provider. This will allow them to secure as well as order the vehicle you have requested. You will also receive the official documents pertaining to your lease agreement, and you can simply sign the documentation and send it back to the provider so they can release your vehicle. It’s that easy.