Car Lease In Melbourne
Introduction:
What is the first hurdle you face when you decide to get a car? It is the choice between buying a car and getting a car on lease in Melbourne. Once you can decide between these two options, you’re almost halfway there to laying your hands on your car.
While buying a car has its benefits, getting a car on lease in Melbourne is becoming popular too, owing to the several advantages it provides. So now, once you decide to get a car on lease in Melbourne, make sure you are choosing the right one.
Only 2% of the population is aware of the fact you can get a car on lease in Melbourne from an independent leasing company. You need not always rely on car dealerships. In this article, we will deal with the pros and cons of getting your car on lease in Melbourne through a broker or a dealership.
Car on lease in Melbourne – through a broker vs a dealership
Let us simplify the difference for you between each option.
A car lease broker acts as an intermediary between you and your car lessor. The car lessor may be a dealership or an independent leasing company.
On the other hand, a car dealership allows you to lease cars of specific models from specific manufacturers.
Whether you choose a broker or a dealer, the endpoint for you remains to get a car on lease in Melbourne. However, the option that you choose will determine the ease of the process. Not just the smooth running of the process, your choice between the two options will determine how much a car lease deal will prove to be beneficial for you.
Car on lease in Melbourne – through a broker:
∙ Advantages –
1. The smooth running of the process:
A car on lease in Melbourne is not too difficult to find. But the process is lengthy and involves elaborate paperwork. A car lease broker simplifies the entire process for you. They take up the responsibility for the majority of the legwork. So, the process runs smoothly. All you have to do in the majority of the cases is put your signature on the given document.
2. A plethora of choices:
When you decide to buy any product, you go through many options to finalise the one for you. The same logic applies when you choose to get a car on lease in Melbourne. But how many options can you browse by yourself? Even if you go to a dealership, you will not necessarily get options beyond a handful of cars. But when you choose a broker, they give you a wide range of choices among different car models, brands, and manufacturers.
3. Competitive rates and deals:
You can compare several deals that give you competitive rates in the market. Hence, you can finalise a deal that suits your repayment budget without too many restrictions.
4. Negotiation:
There is room for negotiation on your car on lease in Melbourne when you select a broker. This is because they are experts in this particular field of finance. They are expert negotiators and can get you the best deal that you could not find on your own. This allows you to utilise the maximum benefits of the flexibility of a car lease.
5. Transparency:
The dealings and negotiations of a car lease broker are 100% transparent. So, you are aware of the current state of your car lease deal in Melbourne. You need not have to sit and wonder about how far your lease deal is in its processing. A car lease broker will present you with all the deals and help you compare them. You make the final call.
6. Option for poor credit score bearers:
A broker can help you get a car on lease in Melbourne even with a poor credit score.
∙ Disadvantages –
1. Admin fees:
A broker will charge admin fees for getting your car on lease. But this is minimal and the service they provide outweighs this cost.
2. No test drive:
You cannot test drive your new car on lease in Melbourne through a broker.
Car on lease in Melbourne – through a dealership:
∙ Advantages –
1. Test drive:
You can test drive a car in the forecourt when you choose to get a car on lease in Melbourne through a dealership.
2. Exclusive cars:
Getting a car on lease through a dealership is helpful when you are sure about which car you want. Dealerships can offer you leases on exclusive cars that you are not likely to find in the market elsewhere.
∙ Disadvantages –
1. Costly:
Car dealerships offer cars on lease at exorbitant interest rates. They have the option of legally bumping up this rate and most of this amount goes into their pockets. Hence, a car on lease in Melbourne through a dealership will cost you much higher than through a broker.
That is why many dealerships will even encourage you to lease a car than buy it.
2. Inflexible:
There is no room for negotiation for a car on lease through a dealership. You will not be able to bargain at a car dealership for a better offer on your deal for a car on lease in Melbourne.
3. A big no-no for below-average credit score owners:
If you have a credit score below 580, chances are you will not qualify for a car lease through a dealership. Dealerships offer cars on lease in Melbourne only to individuals having good to excellent credit scores.
4. Limited choice:
A car dealership will pose limitations on the cars you can lease in Melbourne. This is because they house cars from a few manufacturers and a few models. In this case, you may have to settle for a car that does not fulfil your needs.
5. Lengthy paperwork:
Getting a car on lease through a car dealership means that you will have to face the hassle of extensive paperwork. Much time, energy, and money are wasted on this.
Conclusion:
A car broker travels extra miles to get you a deal on a car lease that profits you. This is because they earn commission through successful referrals only. So, they will search for the best deals for you.
This being their profession, they always keep themselves up-to-date with policy changes and current interest rates. Hence, they will be able to offer you risk-free deals that suit your needs and financial situation.
At Finance Brokers Victoria, our brokers have an experience of over three decades in the industry. Customer-friendly approach and customer-oriented service are what keep us a step ahead of our contemporaries. Our professional network of 40+ lenders allows you to select a deal that provides you with maximum returns in the long run.