What You Need to know Before Taking your Leased Vehicle on a Road TripJune 7, 2019
It is a popular misconception that leased vehicles and road trips do not mix. Though this statement holds true for average leasing options, there are options that are more accommodating to families who like to take an occasional holiday. In this article, we tell you what you need to know before taking your leased vehicle out for a road trip.
Long Term Lease
People choose to lease over renting for a variety of reasons. If you have ever looked into renting a car for long term travel then you know how expensive it can be, especially when you factor in paying for insurance for each individual who will be driving the car. This is a major reason why this isn’t a good choice for a lot of families who enjoy taking road trips.
Many families are choosing long term leases instead. Though these leases are not always the best option, they do have their advantages for those who are looking to use their vehicle for travelling.
Most people lease cars because the monthly payments are lower than if they were to purchase a vehicle. One perk of a long term lease is even lower payments over a regular leasing option. These monthly price deductions are for leases that are for 36 or more months so be sure you can keep up with the costs before making a commitment.
Higher Mileage Allowance
A longer lease means a higher mileage allowance. Choosing a 36-month lease over a 24-month lease could double your mileage and get you up to 30 thousand miles per year. However, you should keep in mind that you will more than likely be driving this car every day so it wouldn’t be wise to spend all those miles on a handful of trips. Going over on your mileage could cost you a ton of money in the end. Keep in mind that a longer lease means more wear to the car so you may also end up paying for car tires and batteries which can be pretty expensive.
If this leasing option sounds good to you then make sure you speak with a salesperson and ask them about it before taking out a personal car lease.
Don’t Forget The Insurance Costs
Whether you are driving your own car or driving a leased car, you will have to pay to keep it insured. There are many factors that go into what an individual will pay for car insurance no matter what vehicle you drive. When leasing a vehicle, you do not get the option of minimum coverage. You must purchase full coverage. It will be in the leasing contract. Understanding insurance for your leased car is crucial to the process and budgeting. You may find that you can’t afford the road trips and all the costs associated with the specific leasing plans you will need in order o go on them without running into extra fees.
High Mileage Lease
A lot of people believe that mileage allowances are capped at around 15 thousand miles per year. This is not true. For the right price, you could greatly increase that cap with a high mileage lease. The options are much more expensive, but they give you more freedom to drive around and take those road trips you and your family love. The extra cost for monthly payments is worth it to avoid the fees you would be charged if you went over our mileage limit. To get the best price, talk to salespeople and shop around. Most large dealerships have more than one option for high mileage leases.