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Tips to get the best car leasing deals
Leasing a car is one of the popular ways of financing a car, especially if you have just started working. However, you need to be on guard against expensive car leasing deals, especially if you have never leased a car before. Leasing a car involves jargon that is not commonly used while buying a car, or even while applying for a car loan. However, to get the best car leasing deals, you must familiarize yourself with the leasing process. Read on to know some handy tips that can help you get affordable car leasing deals. Learn the jargon Some terms are exclusive to car leasing, and you probably won’t hear them anywhere else. Therefore, get familiar with the everyday jargon that is used in car leasing deals. This way no dealership will be able to swindle you into an unprofitable deal. To get started, here are some common car leasing jargon terms that you must understand: capitalized cost, cap cost reduction, money factor, residual value, buyout price, acquisition fee, disposition fee, due at signing, and purchase option fee. Choose the car wisely When you’re leasing a car, you’re essentially paying for its depreciation. Choosing a car that has a low depreciation value essentially means that you’ll be paying less on your lease.