Naivete is left only to those who lack experience and who have not seen the worst. Needless to say, in car leasing the naive will have himself buried in neck-deep monthly payments and additional charges. No amount of questions asked can compensate for a discerning, critical mind in evaluating a car lease deal. This is so because of the multitude of car lease dealers who ply the road clandestinely at night, peddling their wares of questionable value.
These peddlers we call car lease dealers usually have the most inane concept of a business deal, a.k.a. car lease. For those who are not aware of their existence, let me introduce to you their language. Car dealers usually have the sweet tongue to sweet-talk you into thinking the car you’re leasing is an affordable eye-candy. Here are some of their pick-up lines: (Reminder: Don’t believe them.)
“You can lease your car with no rate, yes, zero rate!” This might cause a fiasco when the lessee learns that the interest rates are embedded in the skyscraper-high sales price.
“Our car leasing rate is not influenced by a financed rate.” The truth is, the greater the financed rate, the greater was the leasing rate added.
“In car leasing, the credit extension rate is mandatory.” It’s another way of milking me pure with honey, Mr. Car Lease Dealer. Simply refuse it.
“Oh, we only take car leasing from our partner bank.” Get lost! You have to change your car leasing company right away! This might be a cartel or a syndicate group you’re going to deal with.
“You pay easily for 84 months for the car lease.” If you’re into financing your car in this manner, the amount you’ll be paying is equivalent to buying two cars.