Van leasing enables motorists to drive a shiny new vehicle without having to worry about shedding off a huge sum or worrying about the depreciation cost. However, there are some pitfalls to avoid, especially when customers forget to go through the small prints before signing the agreement. Listed below are a few of them;
1. Paying Too Much of Upfront
Vehicle leasing deals that come with less monthly rentals may seem to be incredibly tempting, but then when you sum up the price it can turn out to be huge. However, if you are considering paying out a large amount initially, you should ask yourself what you would do if the van is stolen. Will the insurance company reimburse the vehicle leasing company with the van’s value? Mostly, individuals who are caught in such a trap find themselves in loss.
2. Insurance is Important
Accidents do not come by knocking at the door. If that ever happens to your leased van, you may run out of money, in case you don’t have the right insurance. Having insurance will reimburse the van’s present value that could be huge. So, ensure that you have proper gap insurance.
3. Mind the Mileage Limits
Low monthly payment deals could conceal low mileage limits. You should see to that matter before leasing the van. Consider your average driving habits, so that you can ask for higher mileage allowance when or if required. Although this may put up your monthly premium, it will help you keep the cost balanced in the long term.
Driving involves small wear and tear. But then there are some companies who will slip hairs over the smallest of the damage to the van. In order to avoid getting in this type of trap make sure that you are fully aware of your lease-end condition guidelines. Just don’t assume that a little scratch can be ignored by the company.
5. Better to Avoid Leasing for Too Long
Van warranties generally last for three years. This is why leasing van longer than this can cause some unwelcome costs. Besides, these commercial vehicles are updated quite often. If you sign the contract for fewer years, you can get to lease all those updated models. Thus, you can drive a new van each year without even having to pay much.
6. Not Maintaining the Leased Van
If you are thinking that you can get away easily from your leased van without maintaining it properly, then you should consider thinking on this again. It is suggested to keep your van well maintained in order to prevent yourself from big charges.
Above all, the most important thing is that you should not end up being with a wrong leasing company. So, research well before choosing the one.