Flex Leasing - Know Your Deal Before Signing It

By Author: Johan Pitter
Total Articles: 1
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Leasing a car is definitely a great alternative to buying one. But there are some issues that you must make clear from the flex leasing company. Some of them include, whether you can take the lease against your owned car, what is likely to happen if you fail to make consistent payments for your leased car, whether you can lessen or lengthen the lease term, and whether or not you can lease a used car.

The aforesaid issues are to be clarified before you opt for the flex leasing. Once you are into the lease, these matters will be of no value. If you already own a car and looking forward to drive a new model but not in a position to actually buy one, flexleasing is a good option. If the leasing company allows you to trade your owned car, you can obtain the benefit of much lower amounts to be paid on monthly basis.

Also, ask the dealer to provide you with all the information related to the flex leasing payments. If there are other costs involved, tell him to explain everything in detail to you beforehand. Some 10-15,000 miles of travelling is included in the flexleasing deal, this is the distance ...
... for which you will not have to pay anything extra, but if this distance is exceeded, you need to pay extra charges on per mile basis.

Generally the flex leasing term is from 12 months to 24 months. The minimum period is 1 year and the maximum is 5 years. However, if you want to extend or shorten the lease term, you can do that with prior consent from the lease dealer. But extending the lease term might cost you more than the agreed amount of lease payments. As far as the issue of used car is concerned, you can of course take a used car on flex leasing; the car must be older than 24 months and travelled less than twenty thousand miles. The down payment is likely to be lower than usual because the chances of damage and depreciation would have already taken place.

The amount that you are to submit as deposit is generally non-refundable. The amount is a part of the whole flex leasing amount and are followed by regular monthly payments of an amount agreed upon by both the lessee and the flex leasingdealer. The deposited amount acts as coverage for any kind of damage to the car. The flexleasing dealer uses the amount for protection.