Most Americans are unaware of the short-term auto lease that allows them to fulfill their dream to get their dream car. Buying a vehicle is one of the high-end expenses, other than the cost of renting or purchasing a house or an apartment, etc.
Well, if you want a BMW or an Audi, it can be an out-of-budget expense, unless you opt for a short-term auto lease.
Although it is a complicated process depending on the providers and dealers, if you do your homework right with proper hunting and research, you can easily find your perfect match. Let’s answer a few common yet vital questions about the short-term auto lease and how it works.
Table of Contents
- What is a short-term car lease?
- Why do people opt for it?
- How do you go about it
- Direct dealer lease
- In-directly buying a lease from a customer
- Rent a car
What is a short term car lease?
People often need a vehicle for a short period, or they want to try it out before completely investing in buying it. Short term lease of a car is how that is made possible. Although, for a variety of reasons, the short term in the case of vehicles is still as long as 6 months to a year at minimum. What happens is, you lease a vehicle for a certain number of months, pay the dues as you go, and return the vehicle when your lease expires. If it still interests you, you can buy the car from the dealer, but there’s no mandatory obligation for it.
The problem for you, the customer, is that you have to find specific dealers that have the minimum months in their short-term lease category that you require. This is different for different dealers, some of them offer a minimum 1-year lease and others consider anything less than 36 months a short-term lease. Many don’t offer it on new cars, only putting used cars in this type of lease requirements. This, however, is not the only way you can get a vehicle for a short while. You can go around the rules of regular buying/renting to find a solution specific to you.
Why do people opt for it?
This is a particularly interesting question because it may give you several ideas for your future needs. People don’t understand or are aware of how flexible certain things can be if you just look for it in a certain direction. Imagine you need a car for 8 months, and you wouldn’t need it after, for any reason. Buying a car for such a short period will be very expensive and unnecessarily add to your regular costs. This is just one reason, there are many other situational and preferential reasons that lead people into requiring a short-term leased car. Here are a few common reasons:
- Due to any kind of unfortunate circumstances or requirements within your family, you could require a vehicle for a short while.
- In case you are starting school or work, whether in your home town or somewhere else, where you don’t own a vehicle. A short-term car lease can solve your commute issue without long-term payments.
- This is similar to work-related needs, but often you get sent on special assignments and tasks to other places where you might need to stay for a while, less than a year or two. A short-term lease for an automobile can solve your transportation problem.
- Being a particularly conscious buyer can be tricky if you are interested in a vehicle but are not sure which reviews to trust. A short-term car lease can give you a little while to test it out before you decide whether you want to buy it or not.
- Lastly, you could have any financial contractions or specific conditions leading you to not be able to afford the fee and down payment often attached to buying a vehicle.
How do you go about it?
Finally on to the solution, how do you go about this process if you are interested? We did a thorough research of what the options are, both formal and informal, and we have 3 different solutions. There is more than 1 way to go about getting a vehicle for a short while, even if your case is specific.
Direct dealer lease
The first one is quite simple, you go to a direct dealer that sells and leases cars, and go about the process in the standard manner. This is not considered a short-term lease by many due to its longer than usual periods. But your situation can fall under this category, therefore, you can look up different dealerships that offer shorter terms for lease and see if any looks interesting.
In-directly buying a lease from a customer
This is the informal way we mentioned earlier, that goes outside the formal lines of directly going to a shop. You can rather look up online communities and find someone who wants to get rid of a vehicle mid-lease. This can be during any time of the lease, if it falls under your required time, you can strike a deal and take over for the rest of the lease.
Rent a car
Lastly, you can just rent a car for months rather than a few days. Usually, people assume car renting is only available for days to weeks. But many rental services offer months-long contracts too. You can easily get a car on rent for the period you need and forget about leasing it at all.
This was all for the short term auto lease, hopefully, it has helped you understand the process. Usually, the place you are particularly looking in has its particular service providers offering different services and deals. Take a quick scan and research your area online for further details specific to your case.
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