Leasing a van gives you the joy of riding a new drive, of any type without worrying about large initial purchasing amounts or even depreciation. People, however, forget about very important things when signing the leasing agreement.
Mistakes to avoid when leasing
Paying too much initial cost
Leasing companies which ask for fewer amounts per month are very tempting. People will run out to acquire their vans because the deal looks good. When you calculate the total sum, it will turn to be a lot of money. If you are thinking of paying large amount initially, you should ask yourself what happens in case the car is stolen. Will the insurance company compensate or are you the one to pay the whole amount? If misfortunes of loss happen, many clients end up making losses.
No one knows when an accident is going to occur. It is, for this reason, you must have a good insurance cover for your leased car. If an accident occurs, they will refund the leasing company the amount worth their van. If you are the one paying for damages in case of accidents, you might find yourself running out of cash.
Not maintaining the leased car
Some clients think that because the car is not theirs, there is no need of proper maintenance. This, however, will land you into extra-large charges. Make sure to properly maintain the leased van.
Avoid leasing for too long
Van warrants last for only three years. If you lease a van for more than that, you might find yourself incurring extra charges. Commercial vehicles are regularly updated; this is why you should lease the van for a short duration so that you will have the chance to lease new models as they come.
Damages are unavoidable when it comes to vehicles. Do not assume the leasing company will assume small scratches on their van. When signing the lease document, make sure to see the type of damages charged, to avoid getting into the trap of paying extra for damages of the van.
Low premiums might mean low mileage limits. Get to the bottom of this when signing the leasing documents. Mind your driving habits so that you will be able to claim your mileage allowances when need be.
Another major mistake most people make is getting into a contract with the wrong company. Ask around from friends, workmates to see which company offer the best deals when it comes to leasing vans.