The best time to lease a car is when the car’s residual value is the highest. This means that you’ll pay less in monthly payments and save money over the course of your lease. This is especially true for new models, as they typically depreciate at the highest rate during this time.
Having a Good Credit Score
Your credit score will impact your ability to secure a lease, so it’s important to make sure that it’s in good shape. A lower credit score can result in higher interest rates and fees, while a high credit score will allow you to negotiate better terms with a leasing company.
You Like Getting New Cars
If you’re the type of person who loves the smell of a new, can you lease a car for 6 months and craves the latest models, then leasing is probably for you. With a lease, you can swap out your vehicle every couple of years and start anew. You won’t have to worry about putting a significant amount of money down and will likely enjoy lower monthly payments and less hassle when it comes to paying for maintenance.
You Want to Keep Your Expenses Low
While leasing can be more expensive than buying a car, it’s worth considering because you’ll be able to drive a new car out of the lot without committing to a long-term loan. Additionally, many dealerships will cover your maintenance costs if a part of the vehicle malfunctions.
You’re Flexible With Your Times
If you are flexible with the timing of when you need a new car, then there are certain months that offer the best opportunities to find great lease deals. This is because auto dealers are often driven to meet their quotas during these times, and they’re eager to get customers into their dealership.
In addition, dealerships may have holiday sales during this period, too. These specials often come with restrictions that can be tough to negotiate, but it’s still a good idea to try to snag one of these offers.
Historically, July through October are the most ideal months to lease a car. This is because these are the months when most new cars are released.
Aside from this, there are also other periods throughout the year that you can rely on to get great deals on a leased car. Some of these moments include holidays, when people are busy and have a lot to spend, and end-of-the-year sales periods, when salespeople have higher sales goals and are more motivated to help their customers find the perfect vehicle.
It’s Also a Good Idea to Look Out For Resale Prices
As we mentioned earlier, a good time to lease a new vehicle is when the car’s residual value is highest. This is because the more recent the model, the more likely it is to retain its resale value and continue to pay off your lease in fewer years than older models.
You can even try to take advantage of resale prices during the winter, especially towards the Christmas season, when many consumers are looking for ways to cut back on their budgets. However, you’ll need to be aware of the fact that these specials can change quite frequently during these periods, so it’s best to check with your local dealer to see what they have available.
