Things to Consider Before Car Leasing

After you have decided on the car you want to lease, there are a few things that you should consider while leasing the car. This article has a few important things that should be considered, take a look.

Cost and model of the car – Lease amount and monthly payment will vary based on the car model and purchase price of the car. If it is a luxurious or a new car, then the amount will be high. In case of used cars the lease amount will be relatively less.

Budget – Choose a car that you can afford and is within your budget, because if you choose a car that is exceeding your budget you will have to pay extra charges. 

Purpose of leasing – Be sure on what is the purpose of you leasing the car, is it for personal use or business use. Cars used for business purpose have the benefit of tax deduction, not the ones that are used personally.

Mileage – You need to calculate on how many miles you are planning to travel in a year and add some extra miles at the beginning of agreement, because if you travel extra miles you will have to pay extra.

Get information on cars before going for lease – It is important to have knowledge about different varieties of cars that are available for lease. You can also search online to get a wide range of cars and then compare the prices and get the cheapest and best car. Otherwise, you can call your local dealers and compare price from different dealers and choose the one that fits in your budget.

Condition of the car – Generally new cars are good in condition, but in case of used cars you need to be careful, because there are chances of frequent repairs. If planning to lease a used car check the condition of the engine, model of the car, how old it is, since how long it is not in use, etc.

Insurance cover – It is better to lease a car form a company that provides insurance cover, if any unexpected repair or damage happens to the car, you can claim for insurance.

Purchase options – Some companies provide an option of purchasing the leased car at the end of the lease agreement. It's better to choose dealers who provide this option, because in case if you like the car, you can buy it.

Lease agreement – After considering the above factors while leasing a car, you have to be careful while signing the lease agreement, ask the dealer to disclose all the pros and cons of the agreement.

Types of Auto Theft

According to FBI, in the United States every 30 seconds an auto theft occurs. According to National Insurance Crime Bureau, auto theft is generating nearly $8 billion a year and is a very profitable business to fraudsters. There are so many reasons for auto theft. Lets take a look at some of them.

To sell complete vehicle: Most of the cars are theft to resale them. These cars are sold in other states or international boarders. So they modify the numbers, paint, and registration papers to avoid the detection.

To sell as parts: Some thieves separate the parts and sell them at a discount prices. The thieves will earn much more when they sell in parts, rather than selling the entire car. The dishonor mechanics will buy the car parts from them with a discount rates. Mechanics will again sell to their customers at full price.

Clone the vehicle: It is a different type of theft. The thief will steal the car registration papers, insurance papers and any other documents related to the car. Later they will rob or buy a car similar to the documents of the car they have. It is really very difficult to trace such cars. It can only be revealed when any accident or crime takes place, as there are two cars with the same number plate, but with one registration document.

Insurance fraud: This type of fraud is also called as owner give up. Generally this happens in leased cars, because of high mileage traveled and charges have to be paid for that, the owner arranges a person who can steal or hide or burn the car, that gives an impression that the car was stolen.

Joy riders: Joy riders look for opportunity when the car keys are in the car and the owner of the car is away. They may steal the car to show off in front of their friends. Once the work is done they may abandon the car or keep it at their home or leave the car from where they stole. Joy riders are mostly teenagers.

To get transportation: Some car thieves, steal cars for their own transportation. They will use the car for some time and abandoned it or sell it after using it for sometime.

For other crimes: Sometimes vehicle are stolen to perform crimes such as drive-by shootings, burglaries and armed robberies. This is an attempt to change the focus while crime investigation.

It is very important to take some necessary precautions like, not leaving the keys of the car inside the car, parking the car at a parking zone, keeping the documents of the car in a safe place, etc. But if the theft takes place immediately compliant to the police.