The Hyundai lease deal you’re looking for can be much more than a few minutes of hassle.
Here are six ways to save even more money.
Rent a car instead of buying it.
The biggest perk of leasing a car is the freedom to rent it and have the vehicle for as long as you like.
In addition, it’s often cheaper than buying a car, because the leasing process will take longer than buying and there’s a reduced chance of a car being stolen.
It’s also cheaper than paying off the loan yourself, since you’re paying to lease the car instead.
However, if you’re going to lease a car for longer than the lease period, you might consider renting the car out rather than buying it, since the monthly payments are less.
There are also cheaper alternatives to leasing a vehicle, such as paying cash and using a car insurance company to secure a lease.
Pay off the car sooner rather than later.
You may have noticed that the first thing you do when leasing a Hyundai is to pay off the lease.
You’ll then have the opportunity to buy the car when the lease ends.
That’s because leasing a lease can save you a lot of money.
If you’re a recent renter, for example, it may be a good idea to make a purchase on your first lease payment, and then pay off your remaining balance on your second and third lease payments.
If you’re not a renter yet, you may want to take the time to save some money by taking the vehicle out of your garage to use for a short time, then returning it to the dealership for a final check-up.
If the vehicle is in good working order, the lease payments will be minimal and you won’t have to worry about needing to take it out of the garage.
Make a rental payment early.
The lease payment process takes about four to six weeks, depending on the vehicle you’re leasing, so it’s important to pay your car rental debt off quickly.
Instead of waiting until the lease payment is due, you can make a rental car payment before the lease is up. 4.
Use your own money.
If you make a payment on your lease when the vehicle’s lease is due but you haven’t made any rent payments, you’re technically still renting the vehicle.
However, you’ll be paying rent, not capital gains tax, since your payments will not be taxable.
When you’re still a new renter and your lease is in your future, you should make a one-time rental payment to make sure your payments aren’t subject to capital gains taxes.
Pay your car upfront rather than in the middle of the month.
Most leases include a 10% down payment, which is calculated as the difference between your loan payment and the monthly rent.
The amount you should pay upfront is different for each lease, so you can determine whether you’ll need to make more upfront payments if you make fewer payments over time.
Payment of the upfront rental payment usually takes about two weeks, but some leases include an additional 15% or 20% to cover interest, penalties, or other costs.
Consider a new lease instead of a traditional one.
Even though the lease process can take some time, it pays to try a new method of paying down the car loan before you leave.
If a traditional lease has a $3,000 down payment (plus a $200 monthly fee), then you can take a traditional loan with an extra $200 in the first month to pay down the lease debt.
With a conventional lease, the monthly payment would be about $1,000, but if you’d take a new loan with a $500 down payment and a $2,000 monthly fee, you’d have a total payment of about $4,000.
This option can save even less money than making a rental agreement, because you’re unlikely to make any payments at all during the lease term, so your total monthly payment is probably much less.