When you are out in the market looking for something it is very important to be aware of the choices available to you. Having this knowledge is very useful especially when looking to match your needs with what is available. Ignorance is a weakness that can be easily exploited by dishonest individuals. Doing some research will help you avoid being in such a situation. The internet is a place where you can carry out a simple research that will yield a huge amount of information that will be very useful as you go shopping. Being knowledgeable about what you are looking for puts you in a better position when asking for a bargain.
Car lease is commonly available as either closed end leases or open ended leases. There are other types but these two are the most popular. Single payment leases as well as subsidized leases are other types of car leases though these are not as common as the other types. Each type of lease has its unique benefits and these can be enjoyed by making sure you select the type that matched your needs. If you are prudent enough, you can reap significant financial benefits by choosing the right option.
Closed ended leases are very popular with individuals who are leasing a car for personal use. With a closed ended lease, financial obligations do not go beyond the final monthly payment as per the contract unless the car is damaged or mileage has been exceeded. The lease will normally come with a cap on the number of miles you can drive per year. The range is normally between 12000 and 15000 miles. If you have decided to lease a van or car and has depreciated below the value that the dealer had anticipated, the customer is under no obligation to pay the difference.
In an open car lease arrangement, the customer is liable to pay for a difference in the anticipated value of the car incase it depreciates beyond what was estimated. Should the car have a higher value than what was estimated at the beginning of the lease, the customer can get a refund of the difference between the estimate and actual value. Commercial clients will normally prefer this type of lease as it also comes with a plus in having no mileage limit.
A single payment lease is also available at the request of the customer. For those who can afford the one time payment that is required in this type of lease, they get to enjoy very low interest.
Subsidized vehicle leasing can also be referred to as subvented vehicle leaseing. This arrangement will have a car manufacturer such as Audi decide to offer subsidized leases on some of their car models. The subsidized leases are offered through low interest rates or higher than normal end of lease value for the car. With a higher end of lease value set for the Audi lease, the customer will be paying a minimal amount. This is usually done to either popularize the particular model in the market or move a slow moving one.