Should You Lease From the Same Company Again?
If you don't shop for the best lease deal every time, you're going to pay for it with a higher lease rate - simple as that.
Leasing companies have learned to take advantage of the trust that's been built up during a lease. They know that most people would rather take the easy road and renew rather than shop around for the best lease deal.
Because of this, they are more likely to input favorable terms for themselves, not you. They may nudge up the interest rate or lower the residual values a bit, both of which would make the lease more expensive for you.
In almost all cases, profits for a leasing company go up on the second lease.
A simple rule to follow: Always shop around for a lease as if you've never leased before.
Each week, I'll keep you up-to-date on the latest car deals and news that might affect your purchase. This includes...
- Best Rebates, Incentives, and Lease Deals
- Latest Car Buying Scams and Tricks
- The Best & Worst Time to Buy a Car
- Which Cars You Should Avoid