Car Lease – How to Get a Short Term Car Lease

short term car lease san francisco bay area

If you are on the lookout for a short term car lease San Francisco Bay Area auto rental agencies may have just the right one for you. A short term car lease is a more convenient option for buying a car when you are relocating or are in town for a short while and require a vehicle for only a few months.

Rather than take on the unnecessary financial burden of getting a bank loan or making an outright car purchase, it makes more sense to pay an agreed rental sum to use the vehicle for a fixed period. Short term car leases can range from a period of one month to up to five years.

How to get a short term car lease

When it comes to offering customers a short term car lease San Francisco Bay Area auto rental agencies have kept things pretty much straightforward. You will have to do the following to lease a vehicle:

Pick the car you want

You can visit the websites of different auto rental agencies in the San Francisco Bay Area and look at the various vehicles they have made available for leasing. Depending on the agency, you may be able to take your pick from different models ranging from economy, compact, intermediate, and standard vehicles to full-sized cars, vans, SUVs, and specialty cars. After finding the brand and model you want, the next step is to make an appointment by email or phone to visit the auto agency for inspecting the car and taking it for a test drive.

Select the right leasing option

You can review different available leasing options and compare them, and select the one that suits your requirement and budget. Use the invoice price (which is what the agency paid for the car and which is the same for all dealers) as a reference to compare lease costs.

When you lease a car, it is generally not necessary to make any down payment. If you want a very high-end vehicle, however, the auto agency could require you to pay several thousand dollars upfront. It all depends on the car model you want.

You must also make a monthly rental payment, and this amount depends on the car’s retail price and its predetermined residual value; the latter is what the dealer expects the vehicle to cost at the end of the lease tenure, factoring in the expected depreciation. If you have made a significant down payment, the monthly rental fees will be lower.

The agency may penalize you if you exceed the allowed annual mileage of 12,000 to 15,000 miles during the lease period. So, estimate how many miles you will need to drive and choose your mileage option accordingly.

Most leased cars will have a warranty cover for any repairs you might require during the lease, and some agencies will also undertake routine maintenance and roadside assistance. You will have to get gap insurance on the vehicle, though, and pay for any necessary local taxes.

Submit your documents

The next step is submitting your documents. It will be a simple process if you have planned and gathered everything you will need. If you are not sure, ask the agency.

You will typically require a valid, state-issued driver’s license for verifying your identity and for being eligible to drive the leased car. You may also have to provide your social security number and a current utility bill or bank statement as proof of residency.

The agency is likely to check your credit report and, depending on whether you have strong credit or not, may ask you to furnish a recent pay stub or the previous year’s tax return as proof of income. They will also want to make sure you have a car insurance coverage policy.

If you are a foreign student, you will require a foreign driver’s license or an international driving permit, your student visa and passport, and your college enrollment proof.

Lease the vehicle

You can now book your car and pay a refundable security deposit and the first month’s payment. Drive the car off the lot or have the dealer deliver it to your place. Keep your copy of the lease agreement safe.

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