Critical Mistakes People Make While Leasing a Van

If you are planning to lease a van for the first time, then be aware of some of the common mistakes which people make while van leasing. To avoid the mistakes, go through the list given below:

• Not Compare the Price Quotes:  Van leasing companies do not have any fixed rate. The rate varies depending upon the model of the van, its hiring period, and the reputation of the company. Whereas it’s good to compare the prices offering by different companies, there are still many people who take decisions instantly and do not even think of make a price comparison. These people generally fail to grab the inexpensive deals.

• Avoid Calculating the Mileage Limit: Most of the times, the rates of leasing depend greatly upon the mileage limit of the leased van. So, you shouldn’t forget to check the limit of the mileage upon which your monthly payment is going to be calculated. Generally, the leasing companies ask you to pay penalty in case you have exceeded the limit of the mileage. However, the restriction puts on the mileage of the van also differs from one to another. You should determine your need and then accordingly make the selection so as to stay away from paying future penalties.

• Lease the Van for a Long Period: The leasing tenure normally varies from 3-4 years. After the end of the contract period, the company may ask you to either extending this contract period or to sign a new contract with them. In that case, it’s always better to go for a new contract. Do you know why? It’s because if you are opting for extending the contract period, you will have to deal with that same old van. With the ageing of the van, it will require maintenance and you may have to repair it every now and then. But, when you are going to sign a new contract, you will get the opportunity to choose from the wide available options. Hence, there are chances that you will get a new van.

• Make Huge Initial Deposit: Renowned companies of van leasing often give low monthly installments. But, the clients in order to further bring down the monthly payments prefer to make big upfront deposit. What these lessees do not take into consideration is that in case their van gets stolen, the company will not reimburse the upfront money.

• Do not Analyze the Contract: Never be in a hurry while signing the contract. Go through every word carefully. You should reserve some time and read the free quotations offered by your selected company. Compare the features of the van. And, clear all your doubts regarding the terms and conditions of the company.

Avoid all the above-said mistakes to get the most out of van leasing.