What is worth buying when signing a lease and car loan agreement?

Buying a car is always  such a big deal! Whether it is joyful or not depends only on you … I will only tell you about what you should pay attention to, when signing documents ..

  1. LEASING

Here is less chances to be cheat , but nevertheless …

  • Excess Wear & tear:

A very useful thing, I highly recommend taking it.

When you take the car in lease, its like  a rent for 2-4 years, and after this period, you can be charged for damage to the car over the period

of operation,  bald rubber, scratches, damage in interior, etc. This insurance allows you not to think about it and safely hand over the car after the end of the lease without a headache. The insurance covers up to $ 7,500 in damages, including even the loss of keys …

– Tires & Wheels.

Also useful insurance, covering all types of damage to wheels or disks during vehicle operation. They punched a wheel, ran over the side and scratched the disc – no problem, they will replace you with a new one.

  • Maintenance:

Doubtful, in my opinion, is the oil change service for the lease term. The oil is changed every 5,000 miles, i.e. about 5-6 times during the lease term. Oil change at any service costs $ 40-80. Total: from $ 200 to $ 500. If you are offered this service at a higher price, there is no point in taking it.

– All other services and insurances that will be offered to you are absolutely useless! Don’t take them.

  1. FINANCING.

Here, in addition to wheels and service, they may offer an additional guarantee, and even for a new warranty car!

Refuse! Absolutely unnecessary!

If the car is used – you can think about if it costs up to $ 1,000 per year. Relevant for Europeans and Americans.

What you should definitely take is GAP insurance. It is automatically included to the lease, but is additionally purchased with financing! It covers the difference between the amount owed to the bank and the residual value of the car in case of complete damage or theft. Without this insurance, this difference, and it is often very large, you will have to pay the bank out of your pocket. GAP insurance costs, as a rule, $900 and this amount is included to the loan.

Everything else, such as insurance for keys, tinting and insurance for insurance – wasted money!

Always make sure you ask and clarify about all the numbers you do not understand in the contracts that you sign!

Your carelessness can cost you several thousand dollars …

For example, I can say that when I took the car to my wife, I was offered a loan of $ 500 per month, which, in principle, suited my wife..  But after delving into all the documents and removing unnecessary services, I reduced the payment by $ 397 per month … Saving $ 103 per month or $6,180 over the entire loan term.

Be careful and do not hesitate to call me to clarify whether you have a favorable offer … There are a lot of hidden factors!