Car leasing is becoming more common as it is seen as a better option when compared to buying new cars. While car leasing isn’t for everyone, if it is for you and you decide to lease a car, some strategies can maximize your benefits. Here are 5 tips to get the most out of car leasing.

• Do thorough research
  One of the most common mistakes is to ignore researching in advance when it comes to car leasing. You want to ensure you spend sufficient time researching. You want to know what you want when you go to lease a car. You want to be clear about your requirements and needs before you show up at a dealership. You should research the features you can do without and those that are important to you. When you do thorough research, it enables the person to know that you are prepared, and you won’t be easily convinced. You can even get a quote in advance.
• Paying entire lease upfront
  One of the 5 ways to get the most out of car leasing is to pay the entire lease upfront. This can help you save as you won’t need to pay the interest amount. This strategy can prove beneficial to those who are not qualified for a car lease, such as someone who has recently moved to the U.S. When you choose to pay the entire lease upfront, the chances of approval are much higher. However, this is not always practical and applicable in all cases. You should ask your lender about how much you will save and if you want to end the lease early.
• Mileage customization
  It is a common misconception that people who drive a lot should stay away from leasing, but that isn’t true. One way to get the most out of car leasing is to customize your mileage according to your requirements. Customization options may vary from brand to brand, but it is possible. Before you lease a car, you must speak to the lender about this. The payment will increase according to the additional miles but will be lower than those of a car that has been purchased.
• Gap insurance
  One of the 5 ways to get the most out of car leasing is to get gap insurance. It would help if you consider this when you have a remaining loan amount that is more than the market value. You can ask your lender about whether the contract includes gap insurance or not, and if not, then how you can get it. Remember, you should research this too because although you can get gap insurance from dealerships, you can get it from banks. Generally, gap insurance from dealerships can be pricier when compared to other options.
• Extend lease if necessary
  If you are unable to decide on the next car that you want to lease or purchase, you can always extend your lease if that is required. Most of the time, lenders are happy to extend your lease without fuss, but you need to tell them in advance. In most cases, lenders are willing to extend your lease for up to 12 months, whereas some extend every month. Generally, it is easy to extend your lease, especially when you want some extra time at hand to choose the right vehicle for your needs. This can help you make the better choice.