Best Short Term Car Lease Options

When a consumer is in need of a vehicle for a short period of time, a short term car lease may be the best way to go. However, make sure to examine all the options available when considering a short term lease.

1. Length of Contract

Due to the short period of time a consumer may need to use a vehicle, many finance companies offer cars that consumers have leased through long-term arrangements that they now wish to terminate. The minimum period for a short-term lease is generally 6 months with the maximum usually being 24 months.

2. Check out the Fees

Often, finance companies will reduce or eliminate certain document, filing, disposition and termination fees as an extra incentive when marketing short-term leasing arrangements.

3. Monthly Payments

Monthly payments may be much lower than the original lease arrangement when the vehicle has been leased for at least a year. Since payments are determined by depreciation value, the rate for the first year can be up to 30%. This allows for lease assumption at a reduced vehicle value that can benefit a consumer seeking a short-term deal.

4. No Insurance Needed

Often many fees, such as insurance, have already been satisfied and the assumer of a lease arrangement can realize additional savings.

5. Check Restrictions

Make sure to gain an understanding about any restrictions that carry over from the original lease like operating limitations and excessive mileage charges that may increase the cost of the short term lease.