Worldwide Automobile Presents…
The Ultimate Broker Guide:
7 Reasons To Lease Your Next Car Through A Broker
As if the car buying experience isn’t confusing enough, the process for leasing a car confuses consumers even more. That’s because most people have only experienced going to a dealer to lease a car, and dealers can create a lot of confusion. While the leasing process itself is pretty easy to understand, it’s dealing with the dealer that becomes the source of frustration and confusion. You’re lucky if you can get past the fast talk of the showroom salesperson to get a definite answer on what your cost will be out the door.
Many people don’t know they can lease a vehicle from a third party and bypass the dealer completely. Tarry Shabesta, the chief executive of Automobile Consumer Services, Inc. says, “the percentage of people who are even aware of independent leasing companies is maybe 2%.”
The difference between leasing and buying
The process of leasing a car can look very similar to buying a car that you finance. You choose a car you would like to drive, and pay a fixed payment each month for a certain period of time in order to drive it. The difference is that when you lease a car, you don’t own it. And because you don’t own the car, you actually get some pretty cool perks.
Here are some of the best reasons to lease a car:
- You can drive a new car every couple of years
At the end of your lease agreement, you can lease a different car and get a newer model within the same general price range. That means every couple of years, you can drive a new car.
- You’re not forever stuck with a car you don’t love
Sometimes it takes a while to realize a car isn’t exactly the right fit for you. Maybe the visibility out the back window isn’t exactly right, or maybe the controls are in awkward places for you to reach. With a short lease agreement, you don’t have to worry about getting stuck with a car you don’t completely love.
Speaking of controls being in awkward places, that’s easily solved by leasing a BMW. If you’ve never driven a car with the power window controls located on the center console between the front seats, you haven’t lived.
- You aren’t responsible for major mechanical malfunctions
When you buy a car, whether you pay the full price on the spot, or finance it, you are responsible for all maintenance and repairs needed for the lifetime of that car no matter what. That includes any major mechanical malfunctions that aren’t your fault that may occur outside of the manufacturer’s warranty. The problem is that you may not be able to get an extended manufacturer’s warranty for the entire time you own your car. Doing so would prove more expensive than just paying out of pocket for the repairs that come up.
When you lease a car, provided it’s still under the manufacturer’s warranty, if you experience a random mechanical malfunction, it will be covered. And the good news is that even when your lease extends beyond the manufacturer’s warranty, you can purchase an extended warranty to stay covered. This works because unlike a car you buy and grow old with, leased cars are new enough to obtain extended warranties for.
- You don’t take the hit of value depreciation
When you buy a car, whether it’s paid off or not, you’re the one who takes the hit on the car’s depreciation when you drive it off the lot. This means if you want to sell it later on, you’re going to lose money even if you turn around and sell it the day after you buy it.
When you lease a car from a broker, it’s the broker who takes the hit of depreciation. And if you’ve ever wondered why most brokers only lease newer cars, it’s because they usually sell the cars after a few years before the value depreciates too much.
- You only pay sales tax on your lease – not the car’s purchase price
In most states, you only have to pay sales tax on the cost of your lease. This is a great deal compared to buying a car and having to pay sales tax on the total cost of the car. And that’s money you’ll never get back.
- Dealer leases are difficult to negotiate
It takes quite a bit of knowledge and experience to succeed in any area of the auto industry. Car buyers, sellers, and even dealers have extensive experience moving their inventory inside of a variety of circumstances that are just “old hat” to them.
When you lease a car from a dealership, you should expect to pay full price and then some. Dealers are notorious for slashing prices on the floor, and just when you think you’ve scored a deal they jack the price back up as soon as you get into the office to begin dealing with taxes, fees, and overpriced insurance rates. That’s because the finance and insurance department personnel are literally paid to make back the cash you just saved.
Getting a good price on your lease from the dealer requires more knowledge and expertise than you can gather in a weekend. A broker, on the other hand, will already have that expertise, saving you the time and frustration of having to do it yourself.
- Brokers are often industry experts
Because auto brokers have often worked extensively as dealers or buyers in the auto industry, they understand details the average person isn’t aware of. They have the leverage to get a deal only an insider can get.
A broker can have all of the hard work done, with the completed contract ready to go in half the time it would take for you to even select your car from the dealership.
Get the upper hand by leasing your next vehicle
World Wide Automobile is a broker to official car dealerships and we maintain close relationships with each brand. We can get special lease terms and prices that aren’t available to the general public.
If you’re looking to lease a high end car like an Audi, for example, if you go to the dealer you might pay $1300/month, but with us you might pay $1100/month for the same lease with the same terms and conditions. That adds up to a savings of over $7,000 over a 36-month lease.
And even if you just want to lease a new Honda you could save about $50/month on your lease, which adds up to over $1,800 in savings.
You lease through us, but you sign your lease with the dealership
Because we have close relationships with the dealerships, we’re able to provide you with all of the official terms and conditions you would get from the dealer, except we negotiate on your behalf to get you the best deal possible. When you lease through us, you are actually signing your lease with the official dealership, which means you have nothing to worry about.
Browse our selection of available lease specials today, and if you can’t find what you’re looking for just contact us and let us know how we can help!