Leasing an Infiniti is an excellent way to enjoy the luxury and performance of this premium brand without the long-term commitment of ownership. However, understanding the leasing process and key factors can save you money and hassle. Let’s dive into the essential leasing tips you need to know before driving off in your dream Infiniti in Winston-Salem.
Understanding Leasing Terms and Conditions
In a typical lease, you agree to use a vehicle for a set term (usually 24 to 36 months) and within a certain mileage limit, paying monthly installments. Afterward, you can either return the car, purchase it, or renew the lease. Be sure to fully understand any fees or restrictions before signing.
Key Differences Between Leasing and Financing
The primary distinction between leasing and financing is ownership. When you lease, you pay for the vehicle's depreciation during the lease term, which typically results in lower monthly payments compared to financing. However, you don’t build equity as you would when purchasing. Leasing is ideal if you enjoy driving a new car every few years or prioritize lower monthly costs.
Leasing Mistakes to Avoid
One of the most common leasing mistakes is failing to understand your mileage limits. Exceeding them can result in expensive penalties. Be sure to negotiate a reasonable mileage limit based on your driving habits. Additionally, watch out for unnecessary add-ons that can increase your monthly payments without offering substantial value.
How Residual Value and Mileage Limits Affect Your Lease
Residual value is the car’s estimated value at the end of the lease, and a higher residual value means lower payments. Mileage limits are also crucial; standard leases allow 10,000 to 15,000 miles per year, but you can often negotiate a higher limit. Keep in mind, exceeding these limits can lead to extra charges.
How to Get the Best Infiniti Lease Deal
Start by researching current lease deals and promotions to find the best offers. A higher credit score typically leads to better rates, so check your score beforehand. Negotiate terms like down payments and mileage limits. Timing your lease to coincide with promotions can also help you secure a great deal. At Modern Infiniti of Winston-Salem, we’ll help you find the right lease deal.
Visit Us for Expert Leasing Advice
Leasing an Infiniti can be a seamless experience with the right knowledge and guidance. Our team at Modern Infiniti of Winston-Salem is ready to assist you every step of the way. Visit us today to explore our specials and get expert advice on securing your ideal Infiniti lease.
